Kia reports record third-quarter profit
 

<p>Filed under: <a href="http://www.autoblog.com/category/economy/" rel="tag">Budget</a>, <a href="http://www.autoblog.com/category/kia/" rel="tag">Kia</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><a href="http://www.bloomberg.com/news/2010-10-29/kia-motors-third-quarter-profit-surges-66-on-rising-global-vehicle-sales.html"><img width="630" vspace="4" hspace="0" height="424" border="1" align="top" alt="Kia Sorento" src="http://www.blogcdn.com/www.autoblog.com/media/2010/10/kiarecq310.jpg" /></a><br />
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In spite of a ridiculous <a href="http://247wallst.com/2010/06/15/247-wall-st-ten-brands-that-will-disappear-in-2011/5/">247WallStreet.com article</a> that simply will not die, <a href="http://www.autoblog.com/make/kia">Kia</a> appears to be doing anything but going out of business. <a href="http://www.autoblog.com/make/hyundai">Hyundai</a>'s "weakest brand," as it was called, just posted a 66 percent increase in profit for Q3. Kia's home market sales, in South Korea, rose by 25 percent, while international sales were only a shade off, increasing by 24 percent - in the U.S. specifically, sales were up eight percent.<br />
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That has meant 541,884 retail sales, earning net income of 666.6 Korean won ($593 million) and an operating profit of 421 billion won ($375M U.S.). Sales of the new Kia K5/<a href="http://www.autoblog.com/model/optima">Optima</a> and <a href="http://www.autoblog.com/model/sorento">Sorento</a> have been credited - and we're sure new <a href="http://www.autoblog.com/2010/10/11/2011-kia-sportage-review-road-test/">Sportage</a> sales haven't hurt - and record profits are expected again in the fourth quarter.<br />
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[Source: <a href="http://www.bloomberg.com/news/2010-10-29/kia-motors-third-quarter-profit-surges-66-on-rising-global-vehicle-sales.html">Bloomberg</a>]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2010/10/31/kia-reports-record-third-quarter-profit/">Kia reports record third-quarter profit</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Sun, 31 Oct 2010 11:33:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.bloomberg.com/news/2010-10-29/kia-motors-third-quarter-profit-surges-66-on-rising-global-vehicle-sales.html>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2010/10/31/kia-reports-record-third-quarter-profit/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19696025/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2010/10/31/kia-reports-record-third-quarter-profit/#comments" title="View reader comments on this entry">Comments</a>

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