Kia’s $60,000 Shot at Luxury Can’t Find Its Way

Kia’s (000270:KS) expensive attempt to swipe a slice of the luxury car market, theK900, is a stunning, sinuous tank. It’s also, at first blush, a bit of a bust.

To be sure, this was a bold strategy for a company built on value-oriented vehicles. Kia admitted as much when it unveiled the swanky sedan at the Los Angeles Auto Show in November. At the time, Tom Loveless, executive vice president of sales for Kia North America, pitched the car as the company’s boldest statement yet. He told the crowd that the K900 is “the ultimate expression of our challenger spirit,” and said it “symbolizes how far we have come.”