Kia's Q3 profit jumps 24.3% on hybrid, SUV sales growth
Kia has achieved solid earnings growth in the third quarter, supported by rising sales of hybrids, electric vehicles (EVs) and popular SUV models across major markets, the carmaker said Friday in a regulatory filing. The carmaker said its operating profit between July and September jumped 24.3 percent to 1.82 trillion won ($1.36 billion). Sales also increased 10.2 percent to 31.6 percent during…
Kia reported a significant 24.3% increase in operating profit for the third quarter, reaching 1.82 trillion won or $1.36 billion. This growth was driven by a surge in sales of hybrid vehicles, electric cars (EVs), and popular SUV models globally. The automaker's earnings rose as its electrification strategy helped maintain sales despite a slowdown in global auto demand.
Despite this, global vehicle sales still grew by 7.9%, reaching 847,355 units. Kia's SUV segment, including the Sportage, Carnival, and recently launched Telluride Hybrid, played a key role in boosting U.S. sales, which rose by 7.8% to about 234,000 units. The company's U.S. market share hit a quarterly record of 5.8%. Hybrid sales in the U.S. surged 118% to 69,000 units, significantly outpacing the market's 27% growth.
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- Kia's Q3 profit jumps 24.3% on hybrid, SUV sales growth koreatimes.co.kr
