Kia Motors Corp., South Korea's second-largest carmaker, said Wednesday that it aims to sell 46,000 units of the newly-launched K5 midsize sedan this year.
The all-new K5, which was officially launched in a media showcase held on Wednesday, will also be sold in global markets including the U.S. within this year, the automaker said.
Since June 22 when it was first unveiled, Kia Motors has received around 8,500 preorders for the K5.
The latest version is the second generation of the midsize sedan which was launched in 2010. For the past 45 months, Kia Motors said that it has invested 490 billion won ($428.7 million) on the new K5.
Under the slogan "two faces with five hearts," the all-new K5 comes in two models -- K5 MX and K5 SX -- along with five powertrains including the 1.6 turbo and 1.7 diesel engines.
Kia Motors plans to unveil its hybrid and plug-in hybrid electric models within this year and during the first half of next year, respectively.
The new K5 offers diverse safety features such as seven airbags and an expanded ratio of advanced high strength steel to 51 percent from 21 percent in the previous model.
Kia Motors said that it also made efforts to improve fuel efficiency. For the 1.7 diesel engine model, its fuel efficiency is 16.8kmpl.
The new K5 is 4,855mm long, 1,860mm wide, stands at 1,465mm and has a wheel base of 2,805mm, which is 10-25 mm larger than the previous model.
The new K5 ranges from 22.45 million won to 29.2 million won, depending on trims and options.
Kia Motors said that the K5 will outperform its rival models such as the Passat of Volkswagen in terms of fuel efficiency and driving performance.
Meanwhile, Kia Motors CEO Park Han-woo said during a press conference that the overall external market situations for the automaker remain tough.
He cited the weak yen, euro and intensifying competition in the U.S. where rival companies engage in aggressive marketing drives.
Asked whether the company's annual sales target could be lowered against such tough situations, Park said that it will stick to its annual sales target of 3.15 million units at home and abroad.
"All of us are working hard even now to achieve the target.
There is no scale back or adjustment to our business plan and we will strive to make it by the end of the year," he said. (Yonhap)
