Kia Motors opened its first showroom in Cambodia on Friday and the local authorised dealer, A&A Auto Group, says the time is right for the Korean carmaker to join the ranks of those looking to tap the country’s growing middle class.
Sin Soveoung, sales manager for A&A said yesterday that Cambodians were increasingly opting to buy new rather than second-hand vehicles and the dealer was confident they could sell 400 cars by the end of 2014.
“I believe we will do very well in the market,” she said.
Soveoung estimates sales to increase 30 per cent annually after the first year.
A&A’s confidence was echoed by rival firms yesterday.
Ly Bunhay, general manager of Toyota (Cambodia), said sales increased 30 per cent during the first quarter of 2014, compared to the same period last year.
He said more affordable brands like Kia, would enhance competition and eventually lower prices for car buyers.
Seng Voeung, motor vehicle division manager of RMA Cambodia, distributor of Ford, said with more carmakers coming to Cambodia, retaining market share will be tough. “The arrival of many global auto brands into Cambodia is a reflection that Cambodia has good potential as an automobile market.”