Kia Reports Q1 Operating Profit of 1.0763 Trillion Won "Impact of Strong RV Sales" (Update)

Operating Profit Soars 142%... Impact of Global Demand Recovery and More

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] Kia posted strong earnings in the first quarter, driven by robust sales of sports utility vehicles (SUVs) and other factors.

Kia announced on the 22nd that its consolidated sales for the first quarter reached 16.5817 trillion KRW, with an operating profit of 1.0763 trillion KRW. This represents an increase of approximately 13.8% in sales and 142.2% in operating profit compared to the same period last year.

Global market sales in the first quarter totaled 689,990 units on a wholesale basis, up 6.4% year-on-year. By market, domestic sales increased by 11.4% to 130,075 units, while overseas sales rose 5.3% to 559,915 units.

In the domestic market, despite some production disruptions, key new models such as Sorento, Carnival, and K5 showed strong sales, resulting in double-digit growth rates influenced by the previous year's base effect. Overseas, Sonet led growth in India with the new model effect, and demand recovery in multiple regions drove overall growth. However, due to the suspension of operations at the Gwangju plant, shipments of Seltos were delayed and inventory shortages occurred, causing a slight decline in sales in the North American and Central and South American regions.

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