Kia Motors Reports Q3 Revenue of KRW 16.3218 Trillion, Up 8.2% YoY (2nd Report)

[Asia Economy Reporter Kim Ji-hee] Kia Motors announced on the 26th that its sales revenue for the third quarter of this year reached 16.3218 trillion KRW, an 8.2% increase compared to the same period last year. Operating profit for the same period was 195.3 billion KRW, a 33% decrease.

Global sales in the third quarter of this year were recorded at 699,402 units, a 0.4% decrease from last year. Domestic sales increased by 3.2% to 136,724 units compared to the previous year, while overseas sales decreased by 1.3% to 562,678 units. In particular, the domestic market saw an increase in sales compared to the previous year due to stable sales of the K5 and Sorento, along with the full-scale effect of the new Carnival model.

A Kia Motors official stated, “Although overall sales declined due to the continued impact of COVID-19 despite the easing of lockdown measures in major countries, sales increased mainly in advanced markets, expanding market share in key regions. Although large-scale quality costs were incurred, we minimized the decrease in operating profit through company-wide efforts to expand the sales proportion of high-profit new models and RVs, as well as reduce fixed costs.”

This content was produced with the assistance of AI translation services.