Kia Motors launches K7 sedan

SEOUL, Nov. 24 (Yonhap) -- Kia Motors Corp., South Korea's second-largest
carmaker, launched Tuesday its K7 premium sedan, setting a global sales target of
40,000 vehicles next year.

Equipped with either a 2.4-liter, 2.7-liter, or 3.5-liter gasoline engine and
six-speed automatic transmission, the K7 will be priced from 28.4 million won
(US$24,550) to 41.3 million won in South Korea, Kia said in a statement.
"The K7 will open a new front in the premium sedan segment," said Kia Vice
Chairman Jeong Seong-eun.
From next year, Kia will release the new model in the Middle East, China and
Africa. The sedan will be available for the U.S. market from 2011.
In 2011, Kia aims to sell 65,000 units of the K7, including 40,000 units in South
Korea, according to the statement.
Kia, an affiliate of Hyundai Motor Co., said it spent 450 billion won to develop
the sedan over the past five years.
In the third quarter of this year, Kia' net profit surged to 402 billion won,
helped by the South Korean currency's weakness and efforts by governments
worldwide to boost demand for new cars.
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