NIGERIA – KIA, South Korea’s second largest car manufacturer, has announced plans to introduce a new budget car by the name Pegas in Nigeria.

Reports from the car manufacturer indicate that the car is scheduled to arrive in Nigeria in the first quarter of next year.

 The move by KIA to launch more vehicles into Nigeria and the African Market at large was in response to the increasing number of middle-income earners in many nations on the continent.

The Korean automaker had earlier introduced Picanto, a budget car, to Nigeria and other African markets.

The Picanto was sold around N1m for a long time when other major sedans were being offered between N2.5m and N4m.

Its prices however change after the duty on imported vehicles rose to 70 per cent from 22 per cent.

According to Olawale Jimoh, The Marketing Manager, Kia Motors Nigeria, KIA Pegas comes with a 1.4-litre petrol MPI engine and offers people the choice of either manual or automatic transmission.

Jimmoh also added that the new car was spacious, economical and highly practical, therefore making it an ideal car for young families in urban areas.

 “The Kia Pegas boasts a stylish exterior design and a spacious interior, as well as an array of convenience features and technologies to please B-segment sedan customers,” read a statement from the automaker

Already, KIA has announced that the new B-segment sedan would go on sale in the Middle East market this month, where it hopes to test the market preparatory to its introduction to the African market.

Built by Kia in China, the car was first introduced to several international markets in 2017.

This important new model will enhance the diversity of Kia’s model line-up in the region and will further strengthen the brand’s image.

KIA has three assembly plants in Africa located in Nigeria, Ethiopia and Algeria.

The Nigerian Assembly plant was launched in 2015 and has the capacity to produce 25,000 vehicles annually.