After charging up third-quarter sales, Kia plans to ramp up output of its new low-cost EV3 model. The compact electric SUV helped boost Kia’s EV sales numbers in the third quarter.
Kia sold 54,000 all-electric vehicles in Q3, up 8.3% from last year. The growth was primarily due to the new EV3 rolling out.
Despite higher EV demand, Kia’s overall global sales fell by 1.9% in the third quarter, with 763,393 vehicles sold. The company said reduced subsidies, a lack of popular compact cars in Europe, and sluggish sales in China, Russia, Central and South America led to fewer car sales.
Overseas sales grew in North America, India, the Middle East, and Asia-Pacific, but it was not enough to offset the weaker global demand.
Kia will boost sales of popular eco-friendly models (EVs and hybrids) to drive demand, including the Carnival HEV and Sorento HEV in the US and Korea.
In Europe, Kia aims to increase its eco-friendly car share to over 40% of total sales. Kia plans to sell over 9,000 EV3 models as demand for the affordable EV continues to grow.
Kia to increase EV3 output as demand builds
Kia expects sales in all major global markets to increase in the fourth quarter, with production at all factories back to normal.
The company plans to “overcome the decline in demand” in Korea by expanding its RV and eco-friendly car lineup. To help reverse the sales slump, Kia will focus on new models, including the EV3 and K8.
In the US and Europe, Kia will start full-scale sales of key new models, including the K4 and EV3, while expanding the availability of previously in-short supply models.
Kia opened EV3 pre-orders in its home market in June, starting at around $30,000 (KRW 42.08 million). The company already calls the low-cost EV a “game changer” in Korea.
| Kia EV3 trim | Range | Starting Price | Starting Price After Incentives |
| Standard | 217 mi (350 km) | $30,700 (KRW 42.08 million) | $29,200 (KRW 39.95 million) |
| Earth | Standard: 217 mi (350 km) Long Range: 311 mi (501 km) |
$33,400 (KRW 45.71 million) | N/A |
| GT Line | Standard: 217 mi (350 km) Long Range: 311 mi (501 km) |
$34,100 (KRW 46.66 million) | N/A |
| Long Range | 311 mi (501 km) | $34,100 (KRW 46.66 million) | $32,200 (KRW 44.15 million) |
The EV3 starts at roughly $40,000 in Europe. Based on Hyundai’s E-GMP platform, the mini electric SUV has a driving range of up to 375 miles (605 km) in Korea. In Europe, it’s rated with a WLTP range of up to 372 miles (599 km).
Kia sold 2,022 EV3 models in its home market in September, down from 4,002 in August. However, EV3 exports surged to 6,158 last month from 1,424 in August 2024.
Ahead of its North American debut, the EV3 has already been spotted testing on US streets (check out the images here).
According to TheKoreanCarBlog, Kia is expected to begin EV3 production in Mexico by the end of the year. It’s expected to make its North American debut in early 2025, with starting prices in the $30,000 to $35,000 range.
Would you buy Kia’s low-cost EV3 for around $30,000? Let us know in the comments below.