Kia Motors said its third-quarter earnings soared a better-than-expected 65.8% from a year ago on increased deliveries at home and abroad and it now expects to top 2m global sales this year for the first time ever.
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Net profit came to KRW667bn (US$593m) in the three months ended 30 September, compared with KRW402bn (US$360m) in 2009, up 19.5% over the second quarter.
Sales rose 26.3% to KRW5.69 trillion with operating profit gaining 34.3% to KRW421bn (US$380m).
In the first nine months of the year, Kia sold 352,100 vehicles in South Korea, up 20.8% from the same period last year. Exports rose 51.5% to 1,150,813.
Lee Jae-rok, Kia Motors’ chief financial officer, said: “Despite a stronger won, the company posted record third-quarter results on strong sales of large and sport utility vehicles following successful launches of new models.”
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By GlobalDataCumulative profit for the first nine months of the year almost doubled to KRW1.62 trillion from KRW846bn (US$760m) a year earlier with operating profit also rising 57.6% to KRW1.15 trillion.
As the company looks to top 2m sales, registrations in the US and Europe rose 12.3% and 8.5% respectively, in the January-September period with sales in China jumping 51.6%.
