Kia 2003 Annual Report Download - page 23

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2003 Annual Report 23
TianLiM a Captivating China
The TianLiMa, designed exclusively for the China market mode and locally produced and distributed, is
achieving stupendous growth. A total of 43,934 units were sold during 2003, making it China’s best
selling economy car. The robust sales performance continues to be strong despite bold incentives and
drastic price reductions offered by big name competitiors.
Continued Success Expected
Kia will exploit its current momentum in China, a strategically important, high-growth market. The
company will introduce a new Carnival model in the second half and expects sales for the year to
increase 39% to 71,000 units.
The Pride and TianLiMa have already proven the strong potential for success in China. The country is
experiencing a personal transport vehicle boom, and Chinese consumers are showing growing interest in
passenger cars as well as SUVs and vans. Company officials raised their estimation of sales prospects for
the Carnival and decided to launch it earlier than originally planned. Carnival production began in
Yencheng, Jiangsu Province in 2004, and annual output capacity will be increased from the current
50,000 units to 130,000 units at year’s end, and 400,000 units by 2010. This reflects an overseas
production expansion plan that aims to make Kia and Hyundai the world’s fifth largest automaker by
2010.
A Resounding Reception for Opirus in China
Kia Motors participated in the Shanghai Motor Show between April 21 and April 24, 2003, showcasing
ten models including the new-concept KCV , Opirus, Optima / Magentis, Spectra, Rio, Sorento,
Carnival, Carens and two TianLiMa produced by Dongfeng-Yueda-Kia. At a preshow press conference
on the 20th, Kia officially unveiled the Opirus, which drew a highly favorable response from local
journalists, who were impressed by its distinguished and classy design.
▶Surging local production and sales have made the
TianLiMa a top selling economy car in China.
▶▶ A visit to the Kia Head Office by Chairman &
General Manager of the Jiangsu Yueda Group, a
major Chinese partner, has helped to boost
cooperative ties.
Growth Trend
(units)
Pride
53,546
02 03
Production Capacity
(units in thousands)
50
130
(P)03 04
Tianlima
CBU
30,408
(+131.4% )
23,138