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Kia to Support Leasing with Certified Used

April 11, 2006

In an effort to boost resale values and support its first attempt at leasing, Kia Motors America plans to offer a certified used-vehicle program, according to an Automotive News report.Leasing is a key element in the automaker's effort to increase sales to 500,000 units annually by 2010, up from 275,851 last year. As part of that plan, the automaker has reduced its reliance on fleet sales. Last month, about 10 percent of Kia's sales went to fleet customers, compared with about 15 percent in March 2005, said Ian Beavis, vice president of marketing for Kia in the Automotive News report.Beavis added that Kia wants to keep fleet at 10 percent or less for the total lineup and that the company is doing much more to manage its residuals. Certified programs can increase demand and the value for used vehicles. Kia plans to complete the details of the certified program in June with a pilot program to be launched before its expected nationwide rollout at the end of the year.
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