Filed under: Budget, Kia, Earnings/Financials
In spite of a ridiculous
247WallStreet.com article that simply will not die,
Kia appears to be doing anything but going out of business.
Hyundai'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.
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/
Optima and
Sorento have been credited - and we're sure new
Sportage sales haven't hurt - and record profits are expected again in the fourth quarter.
[Source:
Bloomberg]
Kia reports record third-quarter profit originally appeared on Autoblog on Sun, 31 Oct 2010 11:33:00 EST. Please see our terms for use of feeds.
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