Kia Sets Sights on US Pickup Truck Market with New Model by 2030

Kia is poised to enter the US pickup truck market with a new model by 2030, as part of its strategy to expand its presence in the country. The South Korean automaker announced plans to introduce a pickup truck with hybrid variants, which will be a major addition to its brand in the US market.

The new pickup truck will be a midsize model, positioning it against competitors such as the Toyota Tacoma, Ford Ranger, and Chevrolet Colorado. According to Kia's CEO, Ho Sung Song, the US pickup market represents a key strategic segment, accounting for approximately 20% of total demand. Song stated, Accounting for approximately 20% of total demand, the U.S. pickup market represents a key strategic segment. Given its strategic importance, Kia will launch a new Body-on-Frame pickup model to broaden our customer base.

Kia's Ambitious Sales Targets

Kia expects to sell 90,000 pickups a year in North America and claim 7% of the midsize pickup segment by 2034. The company also announced plans to increase its annual US sales to 1.02 million vehicles and reach a 6.2% market share by 2030. This compares to sales of over 850,000 units last year and a roughly 5% market share.

The US is a crucial market for Kia's global growth, with the company's global sales jumping from less than 2.8 million vehicles in 2021 to 3.14 million last year. Kia is targeting global sales of 4.13 million units and a 4.5% market share by 2030.

In addition to its pickup truck plans, Kia announced its intention to continue releasing new all-electric vehicles, as well as a major push into hybrid and electric extended-range vehicles, or EREVs. The company's CEO investor day also highlighted its commitment to expanding its customer base and increasing its market share in the US and globally.