Kia Corporation has outlined its 2025 forecast, targeting global sales of 3.22 million units, a 4.1% increase compared to 2024.

The company aims for revenue of Won112.5 trillion ($74.48bn), operating profit of Won12.4 trillion, and an operating profit margin of 11%.

The focus will be on expanding sales of electrified vehicles, introducing new models, and entering emerging markets, the South Korea auto giant said.

In response to growing demand for electrified vehicles, Kia plans to expand its hybrid (HEV) and electric (EV) model offerings in North America and Europe. The company will also launch new models, including the Tasman pickup truck, the PV5 PBV, and the Syros SUV for the Indian market.

Additionally, Kia will enhance its EV lineup with the global rollout of the EV4 and EV5 models.

To further strengthen its financial position, Kia plans to target a Total Shareholder Return (TSR) of 35% in 2025, up from 33.3% in 2024.

Kia’s 2025 outlook follows a strong performance in 2024, where the company reported revenue of Won107.45 trillion, a 7.7% increase from the previous year.

Global sales in 2024 totalled 3,089,300 units, a slight increase of 0.1% compared to 2023. Operating profit for the year grew by 9.1% to Won12.67 trillion, while net profit rose by 11.5% to Won9.79 trillion.

For the fourth quarter of 2024, Kia achieved global sales of 769,985 units, a 5% increase year-over-year.

The company’s revenue for Q4 amounted to Won27.15 trillion, an 11.6% rise compared to the same period in 2023. Operating profit for the quarter reached Won2.72 trillion, an increase of 10.2%, while net profit grew by 8.5% to Won1.76 trillion.

Electrified vehicle sales saw significant growth in 2024, with total sales reaching 638,000 units, a 10.9% increase year-over-year.

In Q4, electrified vehicle sales rose by 14.5% to 164,000 units, making up 21.5% of total sales for the quarter.