Yueda Kia posts double-digit YoY jump in July vehicle sales, output

Shanghai (Gasgoo)- Yueda Kia, the joint venture between Kia Corporation and China's Yueda Automobile Group, recently announced impressive sales figures for July 2024, with a total of 22,156 vehicles sold, representing a 39.9% year-on-year jump. This marks the second consecutive month in which sales have exceeded 20,000 units. In July alone, the company produced 21,400 vehicles, reflecting a 41.7% year-on-year surge.

From January to July of 2024, Yueda Kia's cumulative sales reached 131,745 units, a significant 66.5% soar compared to the same period last year. During this period, the company produced 127,160 vehicles, shooting up by 115.5% over a year earlier.

In response to the diverse travel needs of Chinese consumers, Yueda Kia has introduced several new models this year, including the Kia EV5 720 Long-range edition, a special edition of the Kia K3, and the Sonet entry-level SUV. This product lineup, featuring both oil-fueled and pure electric options, continues to meet the growing demand for versatile travel solutions in China.

Kia EV5; photo credit: Yueda Kia

The Kia EV5, launched as part of Kia's 80th-anniversary celebrations, stands out as the first model to debut in China, produced at Kia's advanced manufacturing facility in the country and distributed globally.

The Kia EV5 has already been exported to developed countries such as Australia and New Zealand. Additionally, fleet versions of the EV5 have been delivered across various provinces in China, including Jiangsu, Guangdong, Zhejiang, Anhui, Hainan, Henan, Shaanxi, Xinjiang, Xizang, and Sichuan, providing high-quality mobility services to consumers.

In addition to its electric vehicle models, Yueda Kia continues to innovate in the oil-fueled vehicle segment. The new K3's special edition, hitting the market in February, features comprehensive upgrades in comfort and smart technologies.

In the second half of the year, Yueda Kia plans to launch several new models, including the 2024 K5 and the EV5 GT-Line, to cater to consumers' increasing demand for diversified and digitalized vehicles.

Yueda Kia is also expanding its overseas business. The company has established an export portfolio including models like the EV5, Sportage, Seltos, K5, Sonet, and Pegas, which are mainly exported to markets in Australia, New Zealand, Thailand, Chile, Colombia, etc. It has made export presence in more than 50 countries across the Middle East, Asia-Pacific, Central and South America, and other regions.

Beyond vehicle exports, Yueda Kia has been actively promoting engine exports. Since launching this business in December 2018, the company has exported over 300,000 engines to countries such as South Korea, Russia, Slovakia, the Czech Republic, India, and Vietnam. Moving forward, Yueda Kia aims to expand both vehicle and engine export volumes, increasing the number of export destinations to over 80 countries. The company targets achieving an annual export goal of 170,000 vehicles, positioning its Yancheng plant in Jiangsu province as a key global export hub for Kia.