[Conference Call] Kia: "Profits Decreased by 1.234 Trillion Won Due to U.S. Tariffs"

Kia stated during its third-quarter earnings announcement on October 31 that "profits decreased by 1.234 trillion won due to the application of a 25% tariff in the United States."

The company added, "Despite efforts to reduce incentives in the U.S. market to partially offset the impact of tariffs, increased competitive costs in the European market led to a rise in consolidated incentives by 264 billion won year-on-year, which contributed to the decline in profitability." Kia further explained, "If the impact of tariffs is excluded, the cost of sales ratio for the third quarter would have been 76.8%, which is expected to be at the same level as the third quarter of the previous year."

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