Kia Carens to heat up three-row MPV market of India in 2022
By MYBRANDBOOK
Despite the COVID-19 impact, new vehicle launches in India have been able to charge up the local market. In line with this, Kia Motors India recently launched its new 7-seater three-row MPV in India called ‘Kia Carens’. This launch marks the entry of Kia Motors in the mass market MPV segment after the premium MPV Carnival. It indicates the trend that the market for three-row 7-seater SUV/MPVs in India is likely to heat up in 2022 with the launch boosting Kia’s competitive position in the Indian market, says GlobalData, a leading data and analytics company.
The progress in new vehicle launches is supplemented by the growing demand for personal mobility and high consumer traction towards feature flooded vehicles.
The Carens is a five-or seven-seat 4,540mm long MPV based on the HMG KP platform. The Seltos-based model is initially only for the Indian market, manufactured locally at the Anantapur factory in Andhra Pradesh but the company has plans to export it to multiple RHD and LHD markets. GlobalData estimates an initial annual production capacity of 35,000 units for the vehicle.
Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, comments: “Kia Motors, like its parent Hyundai group, has been able to sense the market trends and bring in competitive products at the right time. This is evident from the launch of Seltos back in 2019 and Sonet in 2020 when markets for compact and sub-compact SUVs were heated up, respectively.”
An analysis of launches over past few years indicates that now with most OEMs well positioned in sub-compact and compact 5-seater SUV segment, three-row SUV and MPVs is the next battleground. The year of 2021 remained a year for three-row vehicles and witnessed five new launches in the segment while 2022 started with launch of Kia Carens and more three-row products are expected to be launched this year.
Agwan continues: “Most of the launches made over the past few years are available both in 5-seat and 7-seat variants which indicate that there’s an increasing consumer inclination towards bigger-size/family vehicles in India in the mass market segment. The same is also evident from the squeezing share of hatchbacks and sedans. And OEMs are now aiming to leverage the opportunity by bridging the gap, especially with new MPVs.”
According to GlobalData, the MPV and SUV segments have been growing at a CAGR of 7.8% and 16% over the past five years. While the sub-compact segment remains the leader, the mid-size, compact and MPV segment has been able to maintain their relevance in the Indian market.
Agwan concludes: “MPVs undoubtedly make more practical sense for the Indian customers given that it has more capacity, better fuel economy, is relatively cheaper than SUVs and give a sense of a big car. The MPV segment has maintained robust growth over past few years despite limited product availability.”
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
SAMRIDDHI AUTOMATIONS PVT. LTD.
DELL TECHNOLOGIES INDIA PVT. LTD.
TEJAS NETWORKS INDIA PVT. LTD.
TAC SECURITY SOLUTIONS
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
ICONS OF INDIA : RAJIV MEMANI
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
PARTNER SPEAKERS
PSU
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
UIDAI - Unique Identification Authority of India
UIDAI and the Aadhaar system represent a significant milestone in Indi...
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
