At a time when giants like Ford are deciding to leave the Indian market, new companies like Kia are taking their place in the market. The Korean carmaker, which entered India just two years ago, started making good profits. According to the report, Kia India has earned Rs 1,111 crore after tax deduction in the 2020-21 financial year. Not only that, Kia has surpassed companies like Tata Motors and Maruti Suzuki in terms of revenue per car.
Kia India has so much revenue in every car
According to ET Auto, Kia India is reporting a profit of Rs 91,390 per car. It is the highest among the mass-market car manufacturers. Recently, it reported that Tata Motors was earning Rs 45,810 per car. However, the country’s largest carmaker Maruti Suzuki is even lower. Kia India’s profit is like a luxury brand. It earns around Rs 1 lakh per car in India just like Mercedes India.
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The average collection per car in Kia India is Rs 10.43 lakh. This is 2.26 and 1.46 times more than India’s two giants in the passenger vehicle (PV) segment, Maruti Suzuki and Hyundai. Let us know that Kia India is focusing on the most popular SUV segment in India. Currently, the company sells three models – Kia Sonnet, Kia Celtos, Kia Carnival.
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Kia Celtos has sold well
In October 2021, Kia Seltos was the top seller in the compact SUV segment. Last month, the Celtos surpassed the Hyundai Creta by a huge margin and grew 18 percent compared to October 2020. Kia Celtos sold 10,488 units in October 2021, compared to 8,900 units sold in the same month last year. The second-ranked Hyundai Creta sold 6,455 units in October 2021.