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 profit for the third quarter, reaching 1.82 trillion won ($1.36 billion). This growth was primarily driven by the success of hybrid, electric vehicle (EV) and SUV sales across key markets. Overall sales rose by 10.2% to 31.6%, underscoring the impact of the company's diversified electrification strategy in maintaining growth amidst weaker global auto demand.
Kia's SUV line, including the Sportage, Carnival, and newly launched Telluride Hybrid, played a crucial role in boosting sales, particularly in the United States, where retail sales expanded by 7.8% to about 234,000 units. Kia's market share in the U.S. hit a quarterly record of 5.8%. Hybrid sales in the U.S. surged an impressive 118% to 69,000 units, outpacing the general market growth of 27%.
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- Kia's Q3 profit jumps 24.3% on hybrid, SUV sales growth koreatimes.co.kr
