Kia Colombia’s Record-Breaking 2024: A Year of Unprecedented Growth
2024 was a landmark year for Kia in Colombia, as the brand achieved historic milestones in market share, sales, and revenue growth. Among the top five car vendors in the country, Kia saw the most meaningful increase in units sold, with a staggering 51% growth.
The brand’s success was evident in it’s market share leap,climbing from 8.5% to 12.1% by the end of 2024.This remarkable achievement propelled Kia from the fifth to the third position among Colombia’s best-selling automotive brands.
Regional Impact: Antioquia’s Role in kia’s Success
One of the key drivers of this growth was the performance in Antioquia. In this region, kia’s market share surged from 5% to 10.2%, with sales skyrocketing from 1,994 to 3,595 units—an expansion of over 80%. this regional success story underscores Kia’s strategic focus on strengthening its presence across Colombia.
Surpassing Expectations
Jorge Neira, General Manager of Kia Colombia, expressed his astonishment at the brand’s performance. “We were surprised by the 2024 behavior. We had a plan and gave ourselves a period of two to three years to obtain the results.The truth is that the behavior was extraordinary,” Neira shared in an interview with El Colombiano. Initially, the company projected a modest market share increase from 8.5% to 8.9%, but by February 2024, Kia revised its projections upward due to unexpectedly strong demand.
Ambitious Goals and Global Alignment
During the March concessionaires’ convention, neira set an ambitious target: if Kia achieved a 12% market share, the next convention would be held at a destination of the team’s choice. The goal was not only met but exceeded,and the event is now set to take place in Italy in May 2025 to celebrate the brand’s 2024 success.Kia’s alignment with its global strategy also played a pivotal role. “One of the brand’s objectives is that by 2030, 30% of its portfolio will be electric vehicles,” Neira explained. “We, in Colombia, decided to be the flag bearer in the region to bring the entire range of hybrids, and that has helped us.”
Product Launches and Market Response
In 2024, Kia introduced more than nine new models in Colombia, with the K3 and the EV9 leading the charge. The EV9, in particular, saw impressive sales, with up to 120 units sold monthly. Additionally,Kia completed a thorough overhaul of its dealer network,further enhancing its market presence.Key Highlights of Kia Colombia’s 2024 Performance
| Metric | 2023 | 2024 | Growth |
|————————|———-|———-|————|
| Market Share | 8.5% | 12.1% | +42% |
| Units Sold (Antioquia) | 1,994 | 3,595 | +80% |
| Total Growth | – | – | +51% |
Looking Ahead
Kia’s 2024 success in Colombia is a testament to its strategic vision, customer-centric approach, and commitment to innovation. As the brand continues to expand its hybrid and electric vehicle offerings,it is well-positioned to maintain its upward trajectory in the Colombian automotive market.
For more insights into the factors driving Kia’s growth, explore this detailed interview with Jorge Neira.The Colombian automotive market is revving up for a transformative year,with ambitious goals and strategic expansions set to reshape the industry. By 2025, one brand aims to become the best-selling in the country, targeting a leap from 24,000 units in 2024 to 28,000, capturing a market share of 12% to 13%. “We are convinced that we are going to achieve it and we will have new releases, including EV3, and Tasman, which is the new pickup of the brand,” the company stated. This bold vision is supported by favorable economic conditions, including lower interest rates, a stabilized dollar at $4,100 to $4,200, and controlled inflation.
The Colombian subsidiary is already the most important operation in the region, surpassing even mexico.This year, the importation of vehicles from South Korea will be tariff-free, further boosting the company’s competitive edge. Additionally, new dealerships are set to open in Bogotá’s happiness sector and possibly in Barranquilla. “At the market level, we are leaders in intermediate cities, but we still need to strengthen ourselves in Bogotá and Medellín. It is these two places where we have the focus this year to achieve the result we want,” the company emphasized.
The Colombian automotive market itself is thriving, closing 2024 with a remarkable performance. December was the best month of the year, with 25,331 new vehicles enrolled, marking a 27.6% growth compared to December 2023. Throughout the year, 200,953 new vehicles were registered, a 7.9% increase from 2023.Leading brands like Toyota, renault, Kia, Chevrolet, and Mazda dominated the market, accounting for over 57% of total registrations. The most popular models included the Mazda CX-30, Toyota Ruroolla Cross, Renault Duster, Kia Picanto, and Toyota Hilux, which together represented 16.3% of the market.
| Key Highlights of the Colombian Automotive market (2024) |
|—————————————————————|
| Total vehicle registrations: 200,953 (7.9% increase from 2023) |
| December registrations: 25,331 (27.6% growth) |
| Top brands: Toyota, renault, Kia, Chevrolet, Mazda |
| Popular models: Mazda CX-30, Toyota Ruroolla Cross, Renault Duster, Kia picanto, Toyota Hilux |
As the market continues to grow, the focus remains on innovation and expansion. With new models like the EV3 and Tasman pickup, along with strategic investments in key cities, the Colombian automotive industry is poised for an exciting future. The combination of economic stability, tariff-free imports, and targeted marketing efforts ensures that the road ahead is paved with prospect.
Editor’s Interview with Jorge Neira, General Manager of kia Colombia
Table of Contents
- Editor’s Interview with Jorge Neira, General Manager of kia Colombia
- Editor: Kia Colombia has achieved remarkable growth in 2024. What were the key factors behind this success?
- Editor: Kia surpassed its initial projections significantly. What led to this unexpected growth?
- Editor: Antioquia seems to have been a major contributor to Kia’s growth.Can you elaborate on the strategies implemented in this region?
- Editor: Kia has set aspiring goals for the future. What are the targets for the coming years?
- Editor: how does Kia Colombia’s performance compare to other regions globally?
- Conclusion
Editor: Kia Colombia has achieved remarkable growth in 2024. What were the key factors behind this success?
Jorge Neira: The success of Kia Colombia can be attributed to several strategic factors. First, our focus on enhancing our regional presence, notably in Antioquia, played a significant role. In this region, our market share surged from 5% to 10.2%, and sales grew by over 80%. Additionally,our alignment with Kia’s global strategy,especially our commitment to expanding our hybrid and electric vehicle portfolio,resonated well with Colombian consumers. by 2030, 30% of our portfolio is expected to be electric, and we decided to be the flag bearers in the region for this transition.
Editor: Kia surpassed its initial projections significantly. What led to this unexpected growth?
Jorge Neira: Initially, we projected a modest increase in our market share from 8.5% to 8.9%. Though, the demand for our vehicles exceeded our expectations, and by February 2024, we revised our projections upward.The performance of models like the K3 and EV9, which saw up to 120 units sold monthly, was particularly remarkable. This strong market response was a key driver of our success.
Editor: Antioquia seems to have been a major contributor to Kia’s growth.Can you elaborate on the strategies implemented in this region?
Jorge Neira: Antioquia was indeed a pivotal region for us. We focused on strengthening our dealer network and enhancing our customer engagement strategies in this area. The result was a significant increase in sales, from 1,994 units in 2023 to 3,595 units in 2024. This growth highlights the effectiveness of our regional strategies and our commitment to expanding our presence across Colombia.
Editor: Kia has set aspiring goals for the future. What are the targets for the coming years?
Jorge Neira: Our goals are indeed ambitious. We aim to achieve a market share of 12% to 13% by 2025, with sales increasing from 24,000 units in 2024 to 28,000 units. We plan to introduce new models, including the EV3 and the Tasman pickup, to drive this growth. Our focus will also be on strengthening our presence in key cities like Bogotá and Medellín, where we see significant potential for further expansion.
Editor: how does Kia Colombia’s performance compare to other regions globally?
Jorge neira: Colombia has become one of Kia’s moast important operations globally, even surpassing Mexico in terms of performance.This year, the importation of vehicles from South Korea will be tariff-free, which further boosts our competitive edge. We are also planning to open new dealerships in Bogotá’s happiness sector and possibly in Barranquilla, which will help us consolidate our leadership in the region.
Conclusion
Kia Colombia’s success in 2024 is a testament to the brand’s strategic vision, customer-centric approach, and commitment to innovation. With a strong focus on regional expansion, a growing portfolio of hybrid and electric vehicles, and ambitious goals for the future, Kia is well-positioned to continue its upward trajectory in the Colombian automotive market.