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International Journal of Research and Analytical Reviews (IJRAR)

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E-ISSN 2348-1269, P- ISSN 2349-5138 | ESTD Year: 2014

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  Paper Title  

Analysis of Kia Motors’ Booming Market Penetration amidst Downturn of India’s Automobile Industry

  Authors

  Kritika Anuragi,  Akshay Raj,  Smriti Bajpai

  Keywords

Automobile industry, slowdown, downturn, mid-SUV, Kia Motors, Kia Seltos

  Abstract


The Indian automobile industry is among the largest industries in the country and ranks fifth on a global scale. The industry has been undergoing a speedy transformation with new changes surfacing every day. In this perennially evolving industry, every company strives to offer products that appeal to a broad spectrum of customers. In view of this, the target segment of each brand often overlaps with its competitors. Consequently, companies often lose fractions of their market share to more competent companies with ever-changing customer inclination. From the onset of 2019, the industry dynamics were influenced by a series of external factors such as policy changes, increased taxes, higher interest rates, fuel price hikes and legal rulings that impacted the customers buying behaviours and delayed their purchase decisions. As a result, a reduced number of people are investing in automobiles pushing the industry towards a slowdown. In the thick of this downturn, Kia Motors ventured into the industry with Kia Seltos. It managed to have explosive sales with the launch and was able to sustain these numbers. In November, Kia recorded 14,005 deliveries, which is even higher than the sales figures of its rival product Hyundai Creta which recorded 10487 deliveries in January and the numbers have been declining ever since hitting a lowest of 635 deliveries. Other leading brands in the mix exhibited similar trends as Hyundai. This research investigates and analyses the factors that were catalytic to Kia’s successful entry and Kia’s rise to being one of the top five carmakers of India dominating the Mid-SUV segment. The objective of the study is to highlight the major elements that drive customer’s buying behaviour and to use them as a base to compare Kia’s products and services with that of its competitors. A thorough understanding of the factors that made the difference for Kia will help companies to improve their strategies, products and services.

  Cite this article

  Kritika Anuragi,  Akshay Raj,  Smriti Bajpai,   "Analysis of Kia Motors’ Booming Market Penetration amidst Downturn of India’s Automobile Industry", IJRAR - International Journal of Research and Analytical Reviews (IJRAR), E-ISSN 2348-1269, P- ISSN 2349-5138, Volume.8, Issue 1, Page No pp.20-25, January 2021, Available at : http://www.ijrar.org/IJRAR21A1003.pdf  

  IJRAR's Publication Details

  Unique Identification Number - IJRAR21A1003

  Paper ID - 229653

  Page Number(s) - 20-25

  Pubished in - Volume 8 | Issue 1 | January 2021

  DOI (Digital Object Identifier) -   

  Publisher Name - IJRAR | www.ijrar.org | E-ISSN 2348-1269, P- ISSN 2349-5138

  E-ISSN 2348-1269, P- ISSN 2349-5138

  Cite this article

  Kritika Anuragi,  Akshay Raj,  Smriti Bajpai,   "Analysis of Kia Motors’ Booming Market Penetration amidst Downturn of India’s Automobile Industry", IJRAR - International Journal of Research and Analytical Reviews (IJRAR), E-ISSN 2348-1269, P- ISSN 2349-5138, Volume.8, Issue 1, Page No pp.20-25, January 2021, Available at : http://www.ijrar.org/IJRAR21A1003.pdf

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The IJRAR - International Journal of Research and Analytical Reviews (IJRAR) aims to explore advances in research pertaining to applied, theoretical and experimental Technological studies. The goal is to promote scientific information interchange between researchers, developers, engineers, students, and practitioners working in and around the world.


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