Kia's global sales grow 49.2%

Dubai: Kia Motors Corporation Sunday announced its global sales growth of 49.2 per cent in the first half of 2010, based on shipment volume of 990,000 units, compared to the same period last year.

Export market sales, as well as domestic sales, increased significantly due to the continuous launch of new models onto the global marketplace, including Kia Cadenza, Forte (Cerato), all-new Sorento and all-new Sportage.

Global sales of Kia Motors on a retail basis totalled one million units during the first half of 2010, an increase of 34.1 per cent, compared to the previous year.

US market sales increased by 15.4 per cent thanks to the successful launch of the all-new Sorento.

Although the European market continues to be affected by the economic recession and the end of the government tax support in many countries, Kia has increased sales and market share with the introduction of the new Europe-only MPV, Venga, and the strong sales of its flagship models Picanto and cee'd.

China market sales increased dramatically with 76.8 per cent growth due to the market's booming automobile market and high sales of new Kia models.

Good news

The Chinese auto market continues its bright prospected and Kia will continue to expand its line-up with localised versions of new models. In general markets (which include the regions of Central and South America, the Caribbean, Asia [excluding China], the Pacific, Middle East and Africa), Kia's sales increased by 54.9 per cent with main growth coming from the Middle East and Africa.

Sales growth is expected in all general markets undergoing economic recovery, such as Latin America, Russia and Asia Pacific.

"Although intense competition is expected in the global automotive market place," said Hyoung-Keun Lee, President of Kia Motors Corporation, "We aim to meet with our aggressive sales targets through the expansion of our dealer network and the launch of new, exciting models like the all-new Sportage and Optima and our eco-friendly vehicles."

Overseas factory sales grew 120.9 per cent (339,000 units) over last year, helped primarily by the additional sales from its recently opened US plant in Georgia and growing demand from the China market, while sales from factories in Korea increased 27.6 per cent (for a total of 650,000 units). Sales volume from Kia Motors' Slovakia plant increased 64.9 per cent with the growth in demand of Kia vehicles from Europe, especially Spain, France and the United Kingdom.

Earnings

Revenue in the first have of 2010 also reached 10.63 trillion won (Dh32.9 billion), marking the first time Kia hits the 10 trillion won mark in a fiscal half; this figure is a 2.45 trillion won increase over the same period of 2009. The increase in revenue is due primarily to sales increases in the domestic and export markets.