Hyundai Motors affiliate Kia Motors reduced its third quarter net loss because it sold more fuel-efficient models.
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Kia posted a net loss down to to 22bn won ($US15.6m) compared with the 55bn won loss a year previously, according the the AFP news agency.
Q3 operating profit rose to 53.6bn won from the 116.4bn last year, it was the fourth consecutive quarter the company had posted an operating profit.
“Impacts of a favourable currency rate, cost-cutting efforts and strong sales of new models improved third-quarter results,” Kia said.
Sales rose 4.9% to 3.42 trillion won while South Korea market share rose 3.9% to 25.9%. Volume rose 4.5% in the first three quarters to just over 1m cars.
Of those, 229,000 were sold in South Korea, 510,000 exported abroad and 262,000 produced and sold from overseas plants, AFP reported.
These include Kia’s Slovakia plant which builds the Ceed line and the Sportage SUV for Europe.
