Kia Corporation has announced its business results for Q1 2021.The company reported a 13.8 percent year-on-year growth in quarterly revenue to KRW 16.58 trillion.

During the January to March period, Kia sold 689,990 units across global markets, a 6.4 percent increase compared to Q1 2020. Sales in Korea rose by 11.4 percent to 130,075 units, with strong sales of the company’s newer models, including the Sorento and Carnival, behind the increase.

Sales outside of Korea also saw a 5.3 percent increase, rising to 559,915 units, alongside significant growth in India. The Kia Sonet alone sold over 25,000 units in India during the first three months, contributing to a 38.3 percent year-on-year increase in Indian sales.

Revenue

* Net profit includes non-controlling interest * Tentative under K-IFRS

The company’s first-quarter operating profit more than doubled from a year earlier to KRW 1.08 trillion, with an operating profit margin of 6.5 percent. The company’s net profit also significantly increased to KRW 1.04 trillion, up 289.2 percent during the same period.

The strong performance was supported by Kia’s enhanced global product variety as well as the success of the brand’s RV models, including Telluride, Seltos, and Sorento SUVs along with the Carnival minivan. Sales of Kia’s RV models accounted for 59.7 percent of the total sales volume, the highest ever RV share and a 6.4 percentage points increase from the same period last year.

For 2021, Kia is aiming for global sales of 2.92 million units, a 12.1 percent increase compared to 2020 global sales volumes. The company is targeting domestic sales of 535,000 units and 2.39 million units for sales outside of Korea. Kia expects automobile demand to improve alongside the ongoing economic recovery from the global pandemic, but the situation is still uncertain.

In terms of chip supply issues, the company will flexibly adjust its production plans in line with supply status and preventively secure its component inventory while looking out for alternative semiconductor parts to minimise the impact on its production.

Kia will also continue to focus on implementing its mid to long-term business strategy ‘Plan S’ as well as improving sales momentum and profitability through new models, including their new K8 sedan and the company’s first dedicated electric vehicle, EV6. (MT)

Comments (0)

ADD COMMENT

Link Copied!

Mumbai-headquartered SUV major Mahindra & Mahindra has upgraded its popular offering, the Scorpio-N Z8L variant, with Level 2 Advanced Driver Assistance Systems (ADAS) tech.

This will see the Scorpio-N Z8L variant coming with Forward Collision Warning, Automatic Emergency Braking, Adaptive Cruise Control with Stop & Go, Smart Pilot Assist, Lane Departure Warning, Lane Keep Assist, Traffic Sign Recognition and High Beam Assist features.

The ADAS tech will further enhance safety quotient for the Scorpion-N with exclusive features such as Speed Limit Assist and Front Vehicle Start Alert, marking a first for Mahindra ICE SUVs.

Furthermore, the company has also expanded the Scorpio-N line-up with the introduction of the Z8T variant at INR 2.02 million. The new variant will sit between the Z8 and Z8L variants. It comes with a compelling mix of premium features, including R18 diamond-cut alloy wheels, a 12-speaker Sony-branded audio system, front camera, front parking sensors, 6-way powered driver seat, electronic parking brake (EPB), ventilated front seats and an auto-dimming IRVM.

Comments (0)

ADD COMMENT

Link Copied!

Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has achieved a new milestone in its aftersales service. The company recorded servicing (free and paid) over 2.45 million vehicles in May, the highest in a single month in its history.

The feat was achieved through the company’s vast network of over 5,400 service touchpoints.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “This is the first time in the company’s history that we have serviced over 24.5 lakh vehicles in a month, an achievement that reflects scale, depth, and efficiency of the service network. It is a result of the tireless efforts of our service teams and dealer partners across the country.”

“Good quality aftersales service is critical to maintain vehicle health, leading to a delightful car ownership experience and strengthen customer retention. Even before we started mass sales of vehicles in India, our focus was on building a robust service network, a foundation that continues to support us as we expand our business further. Going forward, we aim to expand our service touchpoints to 8,000 by FY 2030-31 and introduce innovative formats to cater to the requirements of diverse customer needs. This will help in our EV launch as well. We are preparing 1,500 EV enabled service workshops covering over 1,000 cities with specially trained manpower and special equipment to extend all EV related support to our customers,” he said.

Maruti Suzuki India has through its dealer partners introduced several innovative and industry-first service formats, to address the smallest query to full-car service needs ranging from traditional brick-and-mortar workshops to mobile workshops. Over the years, it has also created a dedicated Quick Response Team (QRT) to provide emergency on-road assistance across the country.

Comments (0)

ADD COMMENT

Link Copied!

Mercedes-Benz India, the German luxury car brand, has announced a significant organisational change, effective from 1 August 2025, with the appointment of Brendon Sissing as the new Vice-President of Sales and Marketing. He will take over from Lance Bennett, who has moved to Mercedes-Benz Middle East as their Chief Financial Officer.

Santosh Iyer, Managing Director & CEO, Mercedes-Benz India, said, "We are excited to welcome Brendon Sissing as the Head of Sales & Marketing for Mercedes-Benz India. Brendon takes over the responsibility from Lance Bennett, who has joined Mercedes-Benz Middle East as the CFO. Brendon brings rich experience from the world of financing and insurance, as he successfully steered Mercedes-Benz Financial Service India, doubling its portfolio, driving record profit and business transformation, while elevating the integrated customer journey. We are confident Brendon will continue the growth momentum of Mercedes-Benz in this highly diverse and dynamic Indian luxury car market. We thank Lance for his immense contribution and wish them both, the very best in their respective new roles."

Brendon Sissing previously served as the Head of Mercedes-Benz Financial Services India, where he was instrumental in doubling the company's portfolio and achieving record profits. He is recognised for his strong advocacy of digital transformation and risk management, leveraging his expertise in credit risk to drive operational excellence. He has extensive experience within the Mercedes-Benz group, having worked with Mercedes-Benz Malaysia and Mercedes-Benz South Africa, leading Credit Operations in both markets. He also held roles in Credit Underwriting and Key Accounts at Daimler Mobility, Stuttgart, before joining Mercedes-Benz Financial Services India in 2022.

The German brand stated that under Sissing's leadership, Mercedes-Benz Financial Services India significantly enhanced customer journeys through integrated online and offline platforms. He is also noted for his passion for coaching and mentoring, fostering high-performing team environments. Sissing holds a B. Tech degree in Cost & Management Accounting from Technikon Pretoria, South Africa and a Diploma in Credit Management from the Institute of Credit Management. He is also a founding member of Mercedes-Benz Services Malaysia, established in 2012.

A South African national, Sissing has worked in various international locations, including Malaysia, South Africa, Germany and India.

Comments (0)

ADD COMMENT

Link Copied!

Honda Cars India has launched a new variant of its popular mid-size sedan, the Honda City Sport, adding a dynamic and youthful edge to the City line-up. Priced at INR 1.48 million (ex-showroom, Delhi), the City Sport is positioned as a limited-edition offering designed to appeal to style-conscious, spirited drivers.

The new variant will be exclusively available with a CVT automatic transmission and is offered in three colour options — Radiant Red Metallic, Platinum White Pearl, and Meteoroid Gray Metallic.

Sporting a blacked-out exterior theme, the car features a Sporty Black Grille, Glossy Black Shark Fin Antenna, Trunk Lip Spoiler and multi-spoke grey alloy wheels. Inside, the cabin gets an all-black treatment with red stitching, leather seats and ambient lighting for a premium, performance-inspired feel.

Under the hood, it retains the 1.5L i-VTEC petrol engine, delivering 121 PS and 145 Nm of torque, with a claimed fuel efficiency of 18.4 kmpl. The model also comes equipped with Honda Sensing, the brand’s advanced driver assistance suite.

Kunal Behl, Vice-President, Marketing & Sales, Honda Cars India, said, “The new City Sport has been crafted to meet the aspirations of young buyers who value individuality and a spirited driving experience. It embodies a perfect blend of sporty exterior and interior style, fun to drive performance and the everyday usability that Honda City is known for, at a price that makes it even more compelling.”

The City Sport is being positioned as a limited-unit, exclusive edition for customers seeking distinction in both design and driving dynamics.

Comments (0)

ADD COMMENT

Link Copied!