By JIMIN JONG-YOUNG-KIMBYBY-JOAN JANGLOAPSEU, AP ReporterFor the first time since it was established in 1997, Kia has been hit with a consumer backlash over its pricing, with some critics accusing the company of pushing a profit-driven model.
Samsung’s Korean flagship has long been known for its luxury brands, but now it is getting criticized for its price-driven strategy, with critics saying it is killing the brand and driving consumers away.
In a statement issued Wednesday, the Kia Korea unit said the company has worked hard to improve customer service, while focusing on customer service and delivering the highest quality.
Kia said its focus is on the quality of our products and on making them more affordable.
The Korean luxury brands Kia and Hyundai continue to be highly valued in the global market, with consumers spending an average of $16,932 on a car a year, according to the NPD Group.
But Kia’s business model, which has been criticized in some quarters, has driven down demand for the brands.
The brand lost more than $2 billion last year as a result.
Kia Korea is one of the world’s top-selling car brands.
It also has the No. 3 and No. 4 spots in the world in terms of revenue and market share.
The company said it will continue to invest in the quality and design of its products and work with the Korean government to implement the Korean Consumer Electronics Standards Act to ensure the safety and security of consumers.
The U.S. Consumer Product Safety Commission also is investigating Kia over the safety of the vehicles.
In March, Kias cars were found to be contaminated with the bacteria, Escherichia coli, in the U.K.