Korean automobile maker KIA Motors India on Friday said the current slowdown in the industry is a temporary phase, and customer sentiments will revive again.
"There is some industry slowdown. We believe that the slowdown in the automobile industry is temporary. Customer sentiments will revive again," said Yong S Kim, ED and CSO of KIA Motors India.
Kim was talking to reporters here at the launch of the SUV 'Seltos', manufactured at its plant in Andhra Pradesh.
He said the company entered the Indian market with an SUV, as it is the fastest growing segment in the automobile industry in the country.
"For a new entrant, there is no good time. We are confindent of our product...", he said.
The company claimed to have received around 33,000 bookings in the last five weeks.
The Andhra Pradesh facility has a capacity of three lakh units per annum, Kim said.
"If there is demand globally for the product, we will start exports," the company official said.
KIA Motors has 18 to 20 models ranging from small to luxury cars in the Korean market, Kim said. "We will showcase our next model for India in the upcoming Auto Expo in Delhi."