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Kia Aims to Win US Market Share as Tariffs Force Rivals to Pull Back
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Kia aims to win US market share as tariffs force rivals to pull back
South Korea’s Kia Corp said on Friday (Jul 25) that it aims to increase its US sales and market share in the second half, driven by sales of new hybrid and petrol vehicles and as some rivals are expected to raise prices to cope with tariffs.
Their goal is to increase their share from the current 5.1 to more than six percent.
Kia adjusts US operations, slashes incentives amid tariff impact
Kia announced on Thursday that it will adjust its business operations and sales strategies in the United States to further mitigate the impact of the U.S. auto tariffs. The South Korean carmaker will reduce spending on retail incentives, a move that will save the carmaker about $435 million over the remainder of the year. It will also redirect inventory from South Korea away from the American market to other countries, such as Canada, and alloca…
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