Aftermath of Semiconductor Shortage... Kia's October Sales Drop by 18.9%

"Minimizing Supply Disruptions Through Production Schedule Adjustments"

[Asia Economy Reporter Yu Je-hoon] Kia announced on the 1st that it sold a total of 217,872 units last month, including 37,837 units domestically and 180,035 units overseas. Domestic sales decreased by 21.2% compared to the same month last year, overseas sales decreased by 18.4%, resulting in an overall sales decline of 18.9%.

By model, the Sportage recorded the highest sales with 30,174 units, followed by the Seltos with 27,468 units, and the K3 (Forte) with 16,627 units. By market, the Sorento recorded the highest domestic sales with 5,363 units; passenger cars totaled 13,197 units, and RV models sold 20,811 units. Overseas, the Sportage, Seltos, and K3 ranked first to third in sales.

The decrease in Kia's sales volume is due to production disruptions and supply constraints caused by the global shortage of automotive semiconductors. The semiconductor supply shortage, which had once been easing, deepened again in the third quarter due to the resurgence of the COVID-19 Delta variant in Southeast Asia.

A Kia official stated, "Although management uncertainty continues due to semiconductor supply disruptions and the resurgence of COVID-19, we will minimize the impact of supply delays by adjusting production schedules to prioritize models that can be delivered quickly," adding, "We will strengthen sales momentum by leading with recently launched competitive new vehicles such as the EV6, K8, and the 5th generation Sportage."

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