Kia Motors with its flagship luxury sedan K9 is expected to seek a breakthrough in the United States next week, having suffered lukewarm sales in Korea since its 2012 launch.

According to industry sources on Monday, the carmaker unveiled the new launch plan for the K9, which is to be called the K900 in the U.S., during a national dealers’ meeting held in Las Vegas last week.

“Kia officials at the meeting called the K900 a (BMW) 7 Series value for a 5 Series price,” Don Hobden, chairman of Kia’s national dealer council, was quoted as saying by U.S. media.

The K9, Kia’s first full-size premium model, was launched in May last year to compete head-on with its in-house rivals Hyundai Motors’ Equus and Genesis. 

The car is also known to be favored by Hyundai Motor Group Chung Mong-koo as his commuting limousine in Seoul.

Its car sales, however, have fallen short of such high expectations.

Unlike its monthly forecast of 2,000-unit sales, the car currently sells less than 500 vehicles per month. In the first half of this year, it sold 2,965 units, down 7.4 percent from a year ago.

Industry watchers say the U.S. launch could renew Kia’s brand awareness overall.

“Hyundai’s Genesis and Equus, since their launches in July 2008 and December 2010 in the U.S., have elevated the carmaker’s brand image dramatically,” said Korea Investment and Securities analyst Seo Sung-moon.

During the Las Vegas meeting, Kia executives allegedly told dealers they aim to sell about 5,000 units of the K900 next year, far exceeding some 2,000 units that the Equus sold in 2011, its first full year of U.S. sales.

Pricing is expected to range between $50,000 and $70,000. The engine lineup will include V-6 and V-8 engines, with the V-8 producing 420 horsepower.

“Kia plans to launch the new Soul, Optima and Sportage in the fourth quarter of this year, followed by the K900 and the new Sedona (sold as the Carens in Korea) next year,” said Seo. “The carmaker is expected to see new record sales in the U.S. market.”

Kia had previously planned to launch the K9 in the U.S. and Chinese markets at the end of this year but had to delay the plan due to slowing domestic sales and Hyundai’s new car launches.

By Lee Ji-yoon (jylee@heraldcorp.com)