[Asia Economy Reporter Kim Ji-hee] Kia Motors forecasted on the 22nd during its 2019 annual business performance conference call that the 'Golden Cycle' of new car launches, which began in the second half of last year, will continue this year as well.
Joo Woo-jung, Executive Vice President and Head of Kia Motors' Finance Division, stated, "Since early last year, new car launches such as the Soul, Telluride, Seltos, and partial facelifts of the K7 and Mohave have continued. This year, the next-generation Sorento is scheduled for mass production in February, followed by the next-generation Carnival in June." He added, "We refer to the new car effect that began in earnest in the second half of 2019 as the 'Golden Cycle,' and this effect is expected to continue in 2020."
He continued, "Along with a natural increase in volume, there is also an effect of increased sales unit prices," adding, "The exchange rate has also played a role, resulting in a balanced overall increase in sales."
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