Kia Motors launched the second generation of the K5, its best-selling mid-size sedan, in Seoul on Wednesday, five years after K5’s debut in 2010.

“The all-new K5 returns with advanced product quality and driving performance, while maintaining the innovative design identity of the first generation,” Kia Motors CEO Park Han-woo said in a press conference at the Coex exhibition hall in southern Seoul. 

Under the marketing slogan of “two faces with five hearts,” the all-new K5 comes in two models -- the K5 MX and K5 SX -- along with five power train options, including 1.6 turbo and 1.7 diesel engines.

As a traditional family sedan, the K5 MX targets family men in their 40s, while the K5 SX with a sporty design targets metrosexual men in their 30s, the carmaker said.

The nation’s second-largest carmaker introduced two trim options of the K5 with five engine options in an effort to cope with tougher competition from other foreign sedan brands.

“We will also win back customers who shifted to sports utility vehicles with the new K5, armed with better fuel efficiency and advanced driving performance,” said Kim Chang-sik, executive vice president of Kia, who is responsible for domestic sales.

The carmaker stressed that the new K5 equally competes with German rivals in the segment such as the Passat of Volkswagen in terms of fuel efficiency and driving performance.

Regarding the improvement in fuel economy, the new K5, powered by its 1.7 diesel engine, boasts 16.8 kilometers per liter in fuel efficiency.

The new K5 has strengthened safety features. Its key safety features include seven airbags, an autonomous emergency braking system and a blind spot detection system. The sedan also expanded the ratio of advanced high strength steel to 51 percent from 21 percent in the previous model.

Kia has received around 8,500 preorders for the new K5 since June 22. The company aims to sell 8,000 units per month this year.

The price of the new K5 vehicle ranges from 22.45 million won ($19,600) to 29.2 million won, depending on trim and options.

Meanwhile, despite worsening business conditions, Park said the company would be able to achieve its annual sales target of 3.15 million units at home and abroad, backed by new car launches, including the new K5 and Sportage.

He cited the weak yen and euro and intensifying competition in major overseas markets, including the U.S. and China, as key challenges in the market this year.

“All of us are working hard even now to achieve the sales target. There is no scale back or adjustment to our business plan and we will strive to make it by the end of the year,” he said. 

By Seo Jee-yeon  (jyseo@heraldcorp.com)