KIA MOTORS AMERICA RECOGNIZED AS "MOST IMPROVED MAINSTREAM BRAND" IN LATEST ALG INDUSTRY REPORT
Consumer Confidence Increases Following Launches of 2011 Optima, Sportage and Sorento
- Kia Motors' ongoing design-led transformation contributes to rise in brand residual values
- 2011 Sorento, Sportage and Optima bring outstanding design, value and safety features to respective segments
IRVINE, Calif., January 19, 2011 - Following an historic year for Kia Motors America (KMA), including important milestones such as the company's best-ever full-year sales of 356,268 units; a 16th consecutive year of market share growth to an all-time high of 3.1 percent; and the launch of the company's first U.S.-built vehicle1 the Sorento CUV KMA now has been recognized as the "Most Improved Mainstream Brand" in the ALG Residual Value Awards brand rankings outlined in the latest ALG Industry Report , moving four spots from 14th place in 2010 to 10th in 2011. Driven by the wildly successful launches of the 2011 Sorento and Sportage and the all-new 2011 Optima recently named the "Best of 2011" by Cars.com this recognition indicates a continued rise in consumer confidence in the Kia brand and future improvements to brand value.
"We have introduced seven new models in the past two years and throughout this aggressive launch cycle we have maintained Kia's commitment to offering stylish and fun-to-drive vehicles with the technology, convenience and safety features consumers desire, and this recognition from ALG is another example of the continued rise in consumer awareness and confidence in the Kia brand," said Michael Sprague, vice president, communications & marketing, KMA. "We are committed to staying ahead of the curve and challenging the industry with our new product offerings, as evidenced by the launch of the all-new 2011 Optima and upcoming launches of our first-ever hybrid and turbocharged vehicles in the U.S.."
"Improvements in quality ratings and sales strategy have helped set the stage for stronger consumer confidence in the Kia brand," said Eric Lyman, director, residual value solutions. "This strategy has allowed it to expand its presence in the mainstream market, and earn it the most improved mainstream brand in the ALG 2011 Residual Value Awards brand rankings."
The 2011 Sportage compact CUV offers a class-leading residual value of 62 percent of the original manufacturer's suggested retail price (MSRP) for 36 months of ownership, while the all-new 2011 Optima offers a residual value of 52 percent, up 19 percentage points from the 2010 Optima and better than the 2011 Chevrolet Malibu. Both vehicles express Kia Motors' current design language while offering an impressive array of standard features, including an AM/FM/CD/MP3/Sat audio system with SIRIUS® Satellite Radio capabilities with three months complimentary service2 , an auxiliary and USB audio input jacks for connecting with MP3 players3 , and Bluetooth®3 wireless technology connectivity with steering wheel-mounted voice activation controls to enable hands-free operation for compatible mobile phones.
2011 Kia Motors America Product Line
Kia's model year 2011 vehicle line includes the Sorento CUV, Sportage compact CUV, Optima midsize sedan, Soul urban passenger vehicle, Forte compact sedan, Forte 5-door compact hatchback, Forte Koup two-door coupe, Rio sub-compact sedan, Rio5 sub-compact hatchback and Sedona minivan.
About Kia Motors America
Kia Motors America (KMA) is the marketing and distribution arm of Kia Motors Corporation based in Seoul, South Korea. KMA offers a complete line of vehicles through more than 730 dealers throughout the United States and serves as the "Official Automotive Partner of the NBA." In 2010, KMA recorded its best-ever U.S. sales and 16th consecutive year of increased U.S. market share. Kia is poised to continue its momentum and will continue to build the brand through design innovation, quality, value, safety features and new technologies.
Information about Kia Motors America and its full vehicle line-up is available at its Web site www.kia.com. For media information, including photography, visit www.kiamedia.com.
About ALG (www.alg.com)
Based in Santa Barbara, California, ALG is the industry benchmark for residual values and a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" -- the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 40 years in both the U.S. and Canadian markets. ALG is a company of Dealer Track Holdings, Inc. (Nasdaq:TRAK).
1 Kia vehicles assembled at the Kia US plant are built in the U.S. with U.S. and globally sourced parts.
2 SIRIUS, XM and all related marks and logos are trademarks of SIRIUS XM Radio Inc. and its subsidiaries. SIRIUS Radio requires a subscription, sold separately after 3-month trial subscription included with vehicle purchase. Prices and programming are provided by SIRIUS and are subject to change. Subscriptions governed by SIRIUS Terms & Conditions available at sirius.com. SIRIUS Radio U.S. service available only to those at least 18 years of age in the 48 contiguous United States, D.C. and Puerto Rico (with coverage limitations).
3 The Bluetooth® word mark and logos are registered trademarks owned by Bluetooth SIG, Inc. and any use of such marks by Kia is under license. Other trademarks and tradenames are those of their respective owners.