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Dongfeng Yueda KIA business news

13517 Views 16 Replies 6 Participants Last post by  dmitra

"Dongfeng Yueda KIA has again ,effected on May 18, reduced the prices of its products. The new offers involve 24 models under 4series, abd the highest is 32,000 yuan. Under the new program, the lowest offers of its Optima, Carnival is 122,800 and 195,800 yuanrespectively. Its January launched RIO is offered 6,000yuan lower now.

Sources at the company confirmed the would-besecond plant is behind the reduction. The new isexpected to put into full production by Oct, helping theauto maker reach a new step of 300,000 cars annually."

- CAIN -

Carnival 2.7 GL

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Kia's New Joint Venture Plant In China To Start Production

SHANGHAI- July 20, 2007: Kia's second production base in the eastern province of Jiangsu will start assembling in October, said Dongfeng Yueda Kia general manager at a news conference in Yancheng City, Jiangsu Province. The project is a joint venture (JV) between Kia and its Chinese partners, Dongfeng Motor Corp. and Jiangsu Yueda Investment.

Earlier this year, the engine production had already begun and had been fitted into its much-in-demand model Cerato.

The new factory is a major investment for the South Korean carmaker, with a total investment of 6.8 billion yuan, covering an area of 360,000 square meters, The new plant is expected to increase Kia's annual production capacity in China from 130,000 to 430,000 units.

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Kia's second plant opened in December 2007, two months later as predicted in previous post.

KIA Motors Corp, the Republic of Korea's second-largest carmaker, opened a second factory at its venture in China over the weekend. The move came as the company tries to reverse its sales slump in the world's fastest-growing major car market.

The 6.8 billion yuan (US$919 million) factory, which can make 300,000 vehicles annually, boosts Kia's total capacity in China to 430,000 units, the company said in a statement on Saturday. Kia aims to raise its share of China's car market to 8.3 percent by 2010 from its current share of 1.6 percent.

Kia has lost customers to General Motors Corp, which is investing US$1 billion annually in China, and Toyota Motor Corp, which started construction of a new factory in June, Bloomberg News reported. Seoul-based Kia's sales of locally-made cars in China fell 14.6 percent in the first 10 months, compared with a 24 percent jump in the country's total passenger car sales.

"Kia is losing to American, European and Japanese automakers," said Yu Bing, a Shanghai-based analyst at Pingan Securities Co. "Automakers have to bring out timely new models in order to maintain their position in the Chinese market."

Kia, an affiliate of Hyundai Motor Co, the Republic of Korea's largest carmaker, builds Optima sedans, Sportage sport-utility vehicles and Carnival multipurpose vehicles in the eastern Chinese city of Yancheng, Jiangsu Province. It plans to add one or two new models each year.

The new factory, which has an average automation rate of more than 90 percent, is equipped with the most advanced technologies in the world, according to the statement. Upgraded Cerato sedans and Cerato hatchbacks will be assembled at the plant.

Kia's Chinese venture Dongfeng Yueda Kia Motors Co Ltd is owned by Kia, Dongfeng Motor Corp and Jiangsu Yueda Investment Co. Dongfeng Motor and Jiangsu Yueda each own 25 percent of the venture.

"China's auto market is changing very rapidly and we are facing tough competition," Chung Mong Koo, chairman of Hyundai Motor Co, Kia's parent, told reporters on Saturday in Yancheng. "The new factory prepares the ground for Dongfang Yueda Kia to become one of the mainstream automakers in China."

China's annual economic growth has averaged 9.6 percent over the past five years, making cars affordable to more people. In addition to Toyota's and GM's investments, Volkswagen plans to expand production by 2010.

Kia's loss widened in the third quarter because of a stronger won and slumping sales. It predicts a return to profit next year helped by the introduction of five new or revamped models in Korea, Chief Executive Officer Cho Nam-Hong said in October. The carmaker aims to raise its share of the South Korean market, its most profitable, to 25 percent next year from an expected 22 percent this year, Cho said. It aims to sell 318,000 vehicles domestically in 2008.

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Kia opens second plant in China

Kia opens second plant in China

December 10, 2007 – Kia Motors Corp, South Korea's No.2 automaker, officially opened its second factory in China which, the automaker said, will boost its sluggish sales in the fast-growing Chinese auto market, according to a Reuters report.

Located in Yancheng, Jiangsu province, the $919 million plant is built in two years, and it is capable of rolling out 300,000 units per annum at full capacity. Kim Ik-hwan, vice Chairman of Kia said that the new plant will start to make use of an automatic production line and 169 robots in the manufacture ring process.

The second plant will start production of Cerato hatchback and new Cerato in the first phase. Kia also said in its statement that it aimed to produce 200,000 vehicles at its two factories in China by 2008 and 440,000 vehicles by 2010.

For the first 11 months of 2007, Kia has sold 89,712 cars in Chinese market, down 13.8 percent from a year ago

Optima 2.0 GL

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Dongfeng Yueda Kia to launch three new models in 2008

January 25, 2008 – Dongfeng Yuda Kia, a joint venture between Chinese automaker Dongfeng Group and Korean automaker Kia Motor, plans to launch three models in Chinese market this year.

Besides a hatchback Serato, which was launched in Chinese market this month, Dongfeng Yueda Kia will also launch hatchback Rio and Sportage (2.7 liter engine) in the market later this year.

Last year, Dongfeng Yueda Kia sold 105,000 vehicles, which represents only 52.69 percent of the automaker’s sales target for 2007.

Of all four models made by Dongfeng Yueda Kia, Serato represents 60 percent of the automaker’s total sale last year and it was the only model that experienced sale growth last year.

However, the automaker set a 200,000 sales target in Chinese market this year. To reach this target, the joint venture automaker plans to more popular models: hatchback Rio and Sportage (2.7 Liter engine).

Some pics of 2006 Cerato 1.6GLS MT

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Kia's hatchback Rio to hit China market later this year.
April 7, 2008 - Auto News of reports that recently the top SUV vehicle carrying the Kia brand will be imported and sold in China after the 2008 Beijing auto show. In the second half of the year, the Chinese-made hatchback Rio will be put into the market. And in 2009, the compact vehicle and the crossover vehicle based on the new-brand platform will also be produced in the Yancheng plant.

Kia have put into the South Korean market the large-scale SUV Mohave (HM) at the beginning of this year. This vehicle originates from the Kia’s MESA concept car and is named Borrego beyond South Korean market. Borrego was displayed at the North America’s auto show this January, and soon will be sold in the American market this summer. Now the best SUV of Kia is Sorento, which is sold for RMB 300,000 in China. Borrego replaced Sorento and became Kia's top SUV after its appearance. Separated from Sorento in the platform aspect, Borrego adopts the platform technology of Hyundai Veracrus’ seven-seat SUV, with 3.0/3.8 liter V6 engines equipped in a dynamic system and a 4.6 liter V8 engine for choice.

It is reported that Borrego, by the name of "Barui" in Chinese, will be launched in China for the first time at the Beijing auto show this month. A dealer said Borrego will be imported for sale around June this year, with its selling price at about RMB 400, 000 ($57,000).

Sources from Dongfeng Yuedakia said it is still undecided when the hatchback Rio is put into the market, and it definitely will not go to this year's Beijing auto show. According to Dongfeng Yuedakia’s dealers, this vehicle model is likely to be put into the domestic market this September.

In 2009 a passenger vehicle model based on Kia's ED platform will be put into production and will hit the compact passenger vehicle market.

In addition, sources confirmed that the Soul cross-over concept car (or AM) launched by Kia Motors in recent years would be manufactured in the Yancheng No.2 plant of Dongfeng Yuedakia in 2009. At present AM is only displayed in the form of concept car globally, but in South Korea it is coming into mass production.

Dongfeng Yuedakia lost over RMB 75 mln last year.
April 7, 2008 - The annual report issued last week by Yueda Investment disclosed that Dongfeng Yuedakia lost RMB 75.28 million ($10.74 million) in 2007. In the annual report Yueda Investment said that the loss of Dongfeng Yuedakia last year has also led to its earnings losing by RMB18.821 million.

Yueda Investment, the second shareholder of Dongfeng Yuedakia, holds 25% shares of the company’s stock. On December 8, the first phase of the Dongfeng Yuedakia No.2 Plant project was completed and put into operation. Now the company can produce 290,000 vehicles annually. Last year, Dongfeng Yuedakia produced 105,919 vehicles, and sold 101,436 units the whole year. But in 2006, Dongfeng Yuedakia had sold 115,000 units.

Last year, the profits of main domestic automakers increased by more than 60%, with few companies losing money, excluding some joint ventures like Changhe Suzuki, former Nanjing Fiat and so on till now.
Kia Pro-cee'd CUV comes to China by July.

May 09, 2008 - Dongfeng Yueda Kia Automobile Co will launch three-door Pro-cee'd CUV this July. Both Pro-cee'd three-door and five-door editions are expected to go on sale in China this year.

The automaker also unveiled plans to locally produce a five-door model at its Yancheng plant by the fourth quarter of this year. The three-door Pro-cee'd, which has a more sporty profile than the five-door model, will be sold through import.

Kia's another model - Borrego, which was debut at the Beijing auto show last month, will also be imported by June this year, with its a price tag of 400, 000 yuan ($57,000).

Currently, Kia has five models produced in its Chinese joint venture - Dongfeng Yueda Kia. The joint venture sold 104,127 Kia brand vehicles in China last year.

three-door Kia Pro-cee'd
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Kia Soul to be made in China next year.

October 6th, 2008 - The Kia China range is rather funky, you have the Sportage SUV, the Carens MPV, the Rio sedan, and the Cerato sedan/hatchback, quite a choice to choose from! The Dongfeng-Kia range is about to be expanded with the launch of the Kia Soul, a small crossover that is expected to be put up against the other small crossover cars that are currently very popular, cars such as the Suzuki SX4, Polo Crossover, and the MG3 Streetwise are all about to find themselves with a new competitor.

The Kia Soul will come with 1.6l and 2.0l engines, easily giving it the biggest engines in its class, pricewise, the Soul is expected to be 100,000rmb and less, although with a 2.0l engine, CCT can predict pricing around the 120,000rmb marker.

China Car Times
Dongfeng Yueda Kia to launch two new models in 2009

November 6, 2008 - Dongfeng Yueda Kia Automobile Co, a joint venture between Dongfeng Motor Corp and Korean Kia Motors, will make and sell the all-new Kia Forte and Soul compact cars in China next year, reported the Beijing Times today. The upgraded Kia Optima is also likely to be made by the venture for its better sales in the China market.

Kia Motors hopes to boost sales of its cars in China by introducing the two or more all-new models. Kia Forte is the new generation model of Kia Cerato, or Kia Spectra (as called in North America). Dongfeng Yueda Kia will start to make this car for the Chinese market early next year.

The new Forte compact sedan, which Kia released in its home market in late August, is equipped with a 1.6-liter gasoline or diesel engine, generates 124 horsepower, and the company plans to add a 2-liter engine later. The price for the Forte ranges from 11.9 million won ($11,300) to 19.6 million won. Unveiled at the 2008 Paris Auto Show in October, the all-new Kia Forte compact car will be launched in China and global markets simultaneously in June 2009.

Last month, the Kia Soul small crossover was also displayed at the Paris show and went on sale in South Korea. It will be made in China in 2009 as well by Dongfeng Yueda Kia to rival Suzuki Tianyu SX4-Sport. The Chinese-made Kia Soul is expected to hit the China market by the end of next year at a price about 100,000 yuan ($14,650).

Kia has introduced three engines for the Soul model, starting with a 1.6-liter inline four and a 2.0-liter inline four, with the former expected to produce around 110-115 hp, and the latter in excess of 140 hp. The third engine is a 1.6-liter turbo-diesel four-cylinder. Kia has no intentions of offering the Soul in an all-wheel-drive configuration.

In addition to the new Forte and Soul models, Dongfeng Yueda Kia is also likely to produce the upgraded Kia Optima car in 2009 to boost the sales of Optima in China. The first-generation Optima is Kia's first midsize sedan made by the joint venture for the Chinese market, where this car has not sold well.
Kia Carens MPV to be China made by 2010.

December 11, 2008 - After deciding to produce the Kia Cerato and Soul hatchbacks in China next year, Kia Motors and its Chinese partners are discussing about making the Kia's seven-seat Carens MPV model in their joint venture as well, said today.

"We have been discussing about producing the Kia Carens MPV in China," said an insider of Dongfeng Yueda Kia Auto recently to reporters. The Kia Carens is positioned as a family-use seven-seat MPV, which should be a market segment not fully explored yet in China. The Kia Carens MPV will be made at the second plant of the venture by 2010.

The compact Kia Carens MPV was launched into the Chinese market in 2006 with four models, all equipped with the 2.0L 4-cylinder engine and automated manual transmission (AMT), and priced at 165,000 yuan ($24,000) to 183,000 yuan.

Many automakers are looking to tap the MPV market in China. Fujian Southeast Motor started last month to sell its new MPV model the Mitsubishi Zinger (for 136,800 yuan to 179,800 yuan). The high-end MPV Mazda 8 will go on sale in China in 2009, and Haima Auto will release its Fstar (Fushida) MPV model to the market in early 2009.

Dongfeng Yueda Kia Auto, a joint venture between Dongfeng Motor Corp and Korean Kia Motors, announced in early November it will make and sell the Kia Forte (all-new Kia Cerato) and Soul compact cars in China next year. The upgraded Kia Optima is also likely to be made by the venture.

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Dongfeng Yueda Kia cars have retail prices up
Since the beginning of this new year, many auto dealers have started to mark up the retail prices of their car models.

The Beijing-based dealerships of Dongfeng Yueda Kia have scaled up the prices of the joint venture carmaker's all vehicles by cutting 1,000 ($147) to 2,000 yuan in the discount, said Beijing Times today.

Dongfeng Yueda Kia's three main models now on sale have their discounts cut down. The Kia Cerato model (or Kia Spectra as called in North America) now has its discount cut by 1,000 yuan to 15,800-180,000 yuan.

The Kia Rio discounts are cut by 1,000-2,000 yuan. The 1.4L GL manual Rio now sells for 63,000 yuan, up by 1,000 yuan, and the 1.4L GL automatic Rio now sells for 77,000 yuan, up by 2,000 yuan.

The Kia Sportage SUV has its selling prices marked up by 2,000 yuan. Its discount has dropped from 19,000 yuan to 17,000 yuan.

South Korean carmaker Kia Motors hopes to boost sales of its cars in China by introducing the two or more all-new models in 2009. Its Chinese venture Dongfeng Yueda Kia will make and sell the all-new Kia Forte (derived from Cerato) and Soul compact cars this year.

The upgraded Kia Optima will also be made by the venture for its better sales in the China market.

from: gasgoo
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DYK has been renamed to Jiangsu Yueda Kia Automobile Co., Ltd. (江苏悦达起亚汽车有限公司) effective May 2022. After the departure of the Dongfeng Group, the company was briefly called "Kia Motors Co., Ltd." (起亚汽车有限公司). Following a recent increase in registered capital, Kia Corp. holds 50%, Jiangsu Yueda Automobile Group Co., Ltd. (which replaced Dongfeng Motor Group Co.) 45.8%, and Jiangsu Yueda Investment Co., Ltd holds 4.2%.
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