SEOUL– Kia Corp., South Korea’s second-largest automaker, said Monday its sales fell 19 percent last month from a year earlier as extended global chip shortages weighed on its production.
Kia sold a total of 217,872 vehicles in October, down from 268,729 units a year ago, the company said in a statement.
Domestic sales dropped 21 percent on-year to 37,837 units last month from 48,009, while exports fell 18 percent to 180,035 from 220,720 during the cited period, it said.
Kia said the continued chip shortage and resurgence of COVID-19 cases are to blame for the lackluster sales last month, saying it will adjust the production schedules to minimize the part shortage’s impact on its factory operations.
From January to October, sales rose 10 percent to 2.35 million autos from 2.13 million units in the same period of last year.
Source: Yonhap News Agency