Kia reports record third-quarter profit
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.
Read | Permalink | Email this | Comments
View full post on Autoblog
Related posts:
- Report: Kia Motors first-quarter profit quadruples
- Marchionne: Chrysler earned operating profit in Q2
- Chrysler reports $183M second quarter operating profit, $172 million loss overall
- General Motors reports $1.3 billion profit in second quarter
- Video: AMS Alpha 10 claims new quarter-mile record for Nissan GT-R
