Kia will hold off on expanding its production facilities and sales targets in favor of improving the quality of its vehicles, CEO Lee Sam-ung told Automotive News at a launch event for its new Rio hatchback.
“Quantitative growth is important, but qualitative growth is also important. We plan to focus on improving product quality and our brand,” said Sam-ung. Industry analysts worry that limited production capacity will be the biggest factor stunting Kia’s future growth. Sam-ung set a goal of 2.5 million vehicles sold in 2011, and wants to boost Rio sales from 110,000 in 2011 to 260,000 in 2012.
Sam-ung also said that Kia will get an all-electric compact car in 2015, one year after Hyundai launches their own model.
[Source: Automotive News]