Kia may soon have a new Philippine distributor. In a disclosure made to the Philippine Stock Exchange, Ayala Corporation says that they are “considered to be the preferred bidder” to become the new exclusive distributor of Kia vehicles.
“We confirm that our wholly owned subsidiary, AC Industrial Technology Holdings Inc., through one of its group companies, has received notice from Kia Motors Asia regional headquarters that it has considered the Ayala group as the preferred bidder to start negotiations for the Kia distributorship in the Philippines,” the disclosure read. “However, no definitive terms have been reached and we will make the appropriate disclosure of any agreement reached.”
If the bid is successful, the South Korean car brand will be added to Ayala’s vast portfolio of automotive brands including Honda Cars and Isuzu, both of which Ayala has stakes in, Volkswagen, and KTM motorcycles.
Currently, Kia is being distributed by Columbian Autocar Corporation or CAC.
Source: The Philippine STAR
Hope they will not bring barebones specs if ayala gets the deal. the current dealer is greedy AF even though the korea-philippines lower trading tax is signed. im hopeful and might even consider kia in the future, look at the new refreshed sorento, its got all the specs in other countries, here its only FWD what a joke lol
ReplyDeleteAh the Stinger GT won't mind even if it is just RWD and 2.0.
ReplyDeleteCAC couldn't price Kia cars competitively and also couldn't do the same gimmicks and discounts as HARI. It will be interesting how Ayala's strategy will be for the next few quarters.
ReplyDeleteKia Stinger GT please!!!
ReplyDelete