Kia Sparks Aggressive Price War Against Chinese Automakers in Europe
Key Points: Kia reduced the price gap between its vehicles and Chinese models in Europe from 20-25% down to just 15-20%. European registrations for BYD cars surged nearly 150% in March, easily beating the overall market growth of 11%. Offering heavy discounts and sales incentives in Europe caused Kia to report a recent decline in its quarterly profits. China plans to cut government subsidies for...