Like parent company Hyundai Motor, Kia has been hit by strike action during the summer and has also reported negative results for the third quarter.

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Kia has posted a 43.9bn won ($US46m) net loss for the period. Reuters noted that this was a complete surprise to analysts, which had been expecting a 29.5bn won net profit.


Quarterly sales were up 8.3% to 3.5 trillion won, up from 3.23 trillion won a year ago. Cumulative sales for the first nine months were up similarly by 8.1% to 12.35 trillion won.


Operating loss was 87.4bn won versus a year-ago loss of 57.1bn won.


Reuters said that it expects full year net profit to fall 44.5% to 378bn won.

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