DAILY - UPDATED
Kia K7/Cadenza eyes to take 40 percent of the local market
Kia Cadenza eyes to take 40 percent of full-sized sedan market in Korea.
When Kia officially unveiled the all-new K7 (Cadenza) in Korea this Tuesday the company revealed it eyes to take 40 percent of the local full-size sedan market. According to the company, around 100.000 units of full-sized sedans are sold on average each year in the country, which means Kia targets to sell 40.000 Cadenzas per year.
For the 2010, Kia has set its domestic sales target at 35.000 units, while in the following year, the company hopes to raise domestic sales to 40.000 units. Kia also plans to increase its exports to overseas countries from 5.000 in 2010 to 25.000 units in 2011.
In Korea, the all-new Cadenza will compete head to head against similarly sized sedans, all built by domestic car companies (Hyundai Grandeur/Azera, Samsung SM7 and Daewoo Veritas), as well as against a number of European and Japanese rivals.
As seen in the official press release Kia Cadenza comes equipped with a host of safety and convenience features including lane departure warning and tire pressure monitoring systems, a reversing safety camera with interior mirror display screen, front and rear park assist system, cooled front seats, heated steering wheel, powered extendable seat cushions, panoramic sunroof and many other features.
The Korean-market Cadenza is available with a broad range of engine options. Available as an entry-level engine, the 2.4L Theta II engine which produces 180 horsepower and achieves 11.8 kilometers per liter of fuel.
The 2.7L V6 engine generates 200 horsepower and manages 11 kilometers per liter of fuel, while the top of the range 3.5L V6 tops out at 290 horsepower and the fuel economy clocks in at 10.6 kilometers per liter. In addition, Korean-specs Kia Cadenza will also be available with a 2.7-liter liquefied petroleum gas engine that churns out 165 horsepower.
Pricing for the entry-level Cadenza, equipped with four-cylinder engine, ranges from 28.4 million won to 30.7 million won ($24.200 to $26.100 ), while the trim fitted with 2.7L V6 engine is priced between 30.6 million won to 38 million won ($26.100 to $32.300). The 3.5L V6 powered Cadenza starts at 38.7 million won ($32.900) and goes up to 41.3 million won ($35.100) for the top of range Kia Cadenza/K7.
Kia Cadenza gallery (image source: rpm9.com):
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