Kia’s Q3 Net Income Skyrockets 384% Due to Robust Global Sales

SEOUL, South Korea - Kia Corp., the country's second-largest automaker, announced on Friday that its third-quarter net income surged dramatically, citing robust sales around the world as the primary driver.

According to a new release by Yonhap News Agency, Kia's consolidated net profit for the July-September period reached 2.22 trillion won (US$1.6 billion), up 384 percent compared to the same period a year earlier. Operating profit rose to 2.86 trillion won, a 272.9 percent increase, while sales grew by 10.3 percent to 25.54 trillion won.

The financial performance aligned with market expectations, with the average analysts' net profit estimate standing at 2.23 trillion won, as per a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.

During the third quarter, Kia reported selling a total of 778,213 vehicles, of which 643,962 were sold overseas. The automaker highlighted a 4 percent year-on-year growth in overseas sales, along with a modest 1.1 percent uptick in domestic sales.

Kia noted that the domestic sales growth was fueled by the popularity of its SUV and minivan models, including the Sportage, Sorento, and Carnival. In terms of global sales, excluding China, SUVs and minivans constituted 68.7 percent of all Kia units sold during the quarter.

For eco-friendly vehicles, the company reported a steady increase across its hybrid, plug-in hybrid, and EV lineups, selling a combined total of 149,000 units—up 21.2 percent compared to last year. Eco-friendly vehicles now make up 19.5 percent of Kia's total sales for the quarter, an increase of 2.7 percentage points from the previous year.

Looking ahead, Kia acknowledged potential business risks related to international conflicts and weakening consumer sentiment due to high interest rates. However, the company expects to maintain its sales momentum in the fourth quarter. To sustain profitability, Kia plans to focus on popular SUV and minivan models and eco-friendly vehicles. The company also aims to boost its global sales through region-specific strategies.

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