Kia Philippines launched Friday its subcompact vehicle Stonic, its 11th model as the Ayala-owned unit remained optimistic to hit 4,000-unit sales target this year with the support of a total of 38 dealership network nationwide.
Kia Philippines President Emmanuel Aligada said the Stonic is expected to contribute 300 units for the year considering the new model would be made available on October 15 yet. The China made subcompact model is being positioned for the young millennials and as an additional car for a young family.
“In three months and a week left, we are still targeting for 4,000 units,” said Aligada.
With a very competitive price range of P675,000 to P875,000, Aligada expects Kia Stonic to be an active player in the fourth quarter where the industry is likely to return to 30,000 monthly sales to hit a total of 275,000-unit sales this year or 35 percent lower than the 420,000 units sold last year.
As banks have become very selective in the approvals for auto loan financing with approval rate going down to 10 percent or even less from 50 to 60 percent approval rate pre-COVID, and longer approval period of a month or more from three days previously, Aligada said they are now targeting the Ayala Group-affiliated companies as sources for new sales.
Aside from that, Aligada said there are also other companies in the league of the Ayala Group that they are working directly with to further push sales. He said this is the kind of market segments that have higher chances of getting auto financing applications approved by the banks.
Although the BPI, one of the country’s leading banks, is the banking arm of the Ayala Corp., Aligada said they work with all other banks.
The optimistic sales projection of Kia Philippines will also be supported by the opening of new dealerships. Four new dealerships are expected to open in the four quarter this year for a total network of 38. There is also the potential for an additional three more outlets before the end of the year.
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The Ayala-backed Kia Philippines also noted that the introduction of the vehicle is timely as over the years, they saw the market has shifted to subcompact SUVs, in which the median price is in the P1-million level. During this crisis, the subcompact vehicles are growing quicker as more people are concerned for more safety and protection from the virus.
Moreover, Stonic also boasts of excellent features in terms of design, styling and safety. Stonic also comes in six colors.
The Stonic is powered by a 1.4 dual CVVT engine matched with either a five-speed manual or a six-speed automatic transmission. The said power mill is set to deliver a maximum of 95 PS for the manual option and 100 PS for the automatic. The result of this engine-transmission pairing yields to a higher fuel efficiency rating.
The Stonic does not fall short on safety features. The rear parking sensor, rearview camera with dynamic
guidelines, electronic stability control and hill start assist (all exclusive for the EX variant) make certain that the vehicle occupant's welfare is of primary consideration. Also, the 185-mm ground clearance provides that sense of security driving on floodwaters. Meanwhile, the smart entry and push start button provides convenience to the user.
Just like the other members of the Kia Philippines’ roster, Stonic will be offered with up to five-year or 160,000-km warranty, as well as with a 24/7 Roadside Assistance free for five years, making the Kia user experience easier to manage. By just contacting the Kia Customer hotline, customers will have access to roadside assistance, which covers emergency towing, personal assistance, minor onsite repair, medical assistance and information service for a secured, enjoyable and worry-free ownership.