Kia Motors reported its profit rose 40 percent in the second quarter of the year, beating analysts expectations, on higher sales of Morning minicars and a weaker Korean won. The company had earned $85.3 million in the second quarter of the year, while its sales gained 1.4 percent to 4.19 trillion won. Kia expects to post a full-year operating margin of more than 3 percent, with the weaker won offsetting rising materials costs. The operating margin in the first half stood at 2.8 percent.
In South Korea, where Kia earns a third of its revenue, the automaker boosted vehicle sales to 79,619 units. Sales in the first six month increased 20% compared to last year and was led by strong demand for the Morning (Picanto) mini car. Kia introduced the facelifted model in January and since then it has sold at over 8000 units each month. Compared with its sales in the first half of 2007, Morning sales jumped nearly 300%!!
With more small car models coming in the second half, Kia will likely win more customers at home and abroad, giving it a bright outlook. New models, such as Forte compact sedan and Soul crossover, will certainly raise Kias domestic sales and profit in the second half, while helping it offset industry-wide sales declines in Europe and the U.S. [Source: TheEconomicTimes ]
July 26th, 2008 at 4:05 pm
O boy, Kia’s sales are doing so good over here that they dont have display models left. here’s a quote from a post I posted in the forums
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“today we visited the Kia showroom to look at the mohave and guess what we saw… 8 sportages, 6 picantos and 3 carnivals[sedona]. Their sales ared oing so good that they dont have display models left to display. The sportages on display were the regular ones [not spl edition] as they sell most and the only reason they had sportages for display was cuz thats the most imported Kia at the mo. the picantos and carnivals were there on display cuz the sales of those 2 arent as good as the rest but still good enough according to the sales person. they’ve, at the mo, got 10 customers for Mohave. they only had a brown EX mohave which was a demo car [for test drives] and it was in the parking lot under the showroom. “
July 26th, 2008 at 5:30 pm
Williams Kia can’t keep Optima’s on the lot. Thay get a truck full of Optimas every other day. Rondos are selling pretty good too, but Optimas are selling best by far, making up 41% of their sales. They sold 220 cars last month.
July 26th, 2008 at 10:34 pm
Rondo’s are great people movers. If I had to carry a small family at all times I’d consider a Rondo for purchase. Greg, do you like the ’09 Optima’s design? Or do you prefer the design you guys have?
July 27th, 2008 at 3:20 am
I like them both, and I couldn’t decide.
July 27th, 2008 at 4:49 am
I like the new optima better.