Speaking to reporters at the 2026 Busan Mobility Show on June 26, Song noted, "The automotive market is becoming increasingly segmented by region. Demand is rising for electric vehicles in Korea and Europe, while hybrids are gaining traction in the United States. Kia has a full lineup of products to meet the needs of each market."
He added, "Global automotive demand decreased by about 5% from January to May this year, but Kia's retail sales grew by over 4%, and our global market share surpassed 4%. Although the global market conditions will remain challenging in the second half, we expect to continue expanding our market share with electric vehicles, hybrids, and the impact of new models."
Kia is also solidifying its next-generation electrification strategy. Song stated that the company is preparing to launch EREVs, focusing on larger vehicle models aimed at the U.S. market.
Regarding competition from Chinese manufacturers, he remarked, "Due to additional tariffs in Europe, Chinese companies are targeting the market with plug-in hybrids (PHEVs). While Chinese manufacturers are growing, Kia is also experiencing growth."
Song expressed strong confidence in the PBV business, which Kia is developing as a future growth driver. At the mobility show, Kia unveiled three new models based on the PV5 platform, including the PV5 passenger 7-seater, Prime, and Cargo Hi-Roof.
"PBVs are a game changer," Song emphasized. "They can solve the inefficiencies of existing commercial vehicles that require separate modification after purchase. By reducing costs and time wasted in the modification process, we can secure significant competitiveness in the U.S. and European markets."
* This article has been translated by AI.
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