Kia wants to develop in the European LUV market
- We have recently seen that the European LUV market, which represents 2 million units in 2024 and between 1.5 million and 2 million units per year between 2010 and 2023 (also in terms of production), is mainly represented by the Stellantis, Renault, Mercedes, Volkswagen and Ford groups (also in terms of production). The Japanese groups Toyota and Nissan have little share in this European LUV market (less than 10% of total sales between them) and their models are simply a rebranding of light utility vehicles from Stellantis (for Toyota) and Renault (for Nissan).
- The presence of Korean carmakers (Hyundai and Kia) in this European LUV market is practically anecdotal. This situation could change rapidly with the launch of brand new Kia-branded utility vehicles, the PV5 (2025), PV7 (2027) and PV9 (2029), three battery electricLUVs with futuristic design that differ mainly in their dimensions, the Korean carmaker wishing to be present in each of the European segments N1-1, N1-2 and N1-3. It should be remembered that the LUV market is a market with high margins, rather stable and therefore very profitable.
- The first model, PV5, has just been presented in two versions, the first with a length of 4.50 m, the second with a length of 4.70 m. These dimensions place it between a Renault Kangoo (4.50 m) and a long Renault Kangoo (4.90 m). The PV7 launched in 2027 will target the electric Renault Trafic. As for the PV9 launched in 2029, it will target the electric Renault Master. The new Kia utility vehicles will also target the new LUVs designed by Flexis for Renault and Volvo.
- The PV5 has a choice of three batteries: LFP 43 kWh, NMC 51 kWh, and NMC 71 kWh. Its range can reach up to 400 km depending on the battery chosen. Pricing for the PV5 has not yet been announced.