[Click eStock] "Kia Changes Logo and Enters New Stock Era"... '100,000 Kia'

[Asia Economy Reporter Ji Yeon-jin] Shin Young Securities announced on the 21st that it raised the target price of Kia Motors from 70,000 won to 100,000 won by changing the evaluation standard for calculating the target price from the price-to-earnings ratio (PER) to the price-to-book ratio (PBR).

On the 15th of this month, Kia Motors changed its name from "Kia Motors" to "Kia" for the first time in 31 years and applied a new logo. This is to expand its business scope from a car manufacturing-centered business model to various mobility products and services. Recently, competitors such as BMW, Volkswagen, and General Motors (GM) have introduced new logos to improve their image, so Kia is also expected to enhance its brand image in key markets through the new logo.

In addition, it announced plans to build a full lineup of 11 electric vehicles (EVs) by 2025 and expand the share of eco-friendly vehicle sales to 25.1% and electric vehicle sales to 12.3%. Shin Young Securities stated, "Through this, it is expected to pursue a differentiation strategy from Hyundai Motor, which owns the premium brand Genesis, and strengthen brand identity," adding, "New models such as the new Sorento, Carnival, Sportage, and K7 are scheduled to be actively sold overseas this year, and due to these new car effects, performance is expected to improve and the effect of incentive reduction is expected to continue."