Kia 2010 Annual Report Download - page 11

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We have every reason to believe that 2011 will be another strong year of
growth for Kia. At the onset of the global economic downturn, we were
ideally positioned with an exciting new generation of vehicles offered at
great value, allowing us to make significant gains in all major markets. Now,
with improving economic conditions, Kia benefits from an established
brand image, polished design and recognized quality. We will capitalize on
our current advantages by continuing to aggressively launch new models in
overseas markets and further strengthening our global growth strategies.
We plan to expand our global presence by strengthening our dealer
network and fine-tuning production systems in the US, China and Europe.
In the US, the world’s largest car market, we will compete aggressively
while steadily introducing new models to boost our global market share.
2010 was a signature year for Kia, in which our quantitative sales and
revenue growth was matched by the rising numbers of international awards
recognizing the superior value of our products. One the main drivers of our
international success, the K7 (known as ‘Cadenza’ in overseas markets),
was ranked first in the Korean New Car Assessment Program (KNCAP)
and awarded ‘This Year’s Best-in-Class for Safety’ by the Ministry of Land,
Transport and Maritime Affairs. The Sportage also received 5 stars from
the European NCAP, the organization’s highest ranking, confirming that our
popular SUV meets the EU’s toughest standards for vehicle safety.
The Picanto (Morning), which has recorded strong sales since its
introduction in 2004, was honored in Germany with the top ranking in J.D.
Power’s 2010 Vehicle Ownership Satisfaction Survey (VOSS). This was the
first time a Korean compact car has captured the top ranking in the VOSS.
Meanwhile in the US, the Optima (K5) was selected by Consumer Guide®’s
Automotive site as a Best Buy in the mid-size car segment in the 2010 Best
Buy and Recommended Awards, while the Sorento (Sorento R) was named
a Best Buy among mid-size SUVs. In addition, the Sportage (Sportage R),
Rio (Pride) and Rondo (Carens) were tagged as Recommended in the small
SUV, small-size and mid-size categories, respectively. Also in the US, the
Insurance Institute for Highway Safety (IIHS) named four Kia vehicles in its
2010 Top Safety Picks: the Cerato (Forte), Sportage (Sportage R), Soul and
Sorento (Sorento R).
Kia Motors’ global competitiveness is increasingly being recognized at home
and abroad which has led to dual benefits of increased sales and improved
brand image, thereby adding momentum to the company’s growth into a
global player.
Global Accolades –
Building Our Reputation
Our Plan to Forge Ahead
Overseas Retail Sales
(Unit: Thousand units)
1,059
2008
997
2007
955
2006
1,239
2009
1,605
2010
Global Market Share
(Unit: %)
2.9
2.1
2008
2.6
2009 2010
22 COMPONENTS OF SUSTAINABLE GROWTH 23
KIA MOTORS ANNUAL REPORT 2010