Kia EV9 chosen as Car of the Year at the 2024 World Car Awards. /AFP=Yonhap News
Kia recorded an operating profit of 3.4257 trillion won in the first quarter of this year, breaking its all-time quarterly record. Kia’s annual operating profit last year was the highest ever, so many expected this year’s profit to be relatively lower than last year. But beyond this, the rapid upward trend continued in the first quarter.
Kia announced on the 26th that sales in the first quarter of this year amounted to 26.2129 trillion won, up 10.6% and operating profit 19.2% compared to the first quarter of last year. Kia’s operating profit margin was 13.1%, recording double-digit profit margins for six consecutive quarters. Compared to other global car companies, it is at the top.
Although sales in the first quarter were similar to last year at 760,000 units, sales and overall profits are assessed to have increased as the proportion of SUVs with high added value increased.
Hyundai Motor Company recorded its highest first-quarter sales on the 25th, and Kia also recorded an earnings surprise, giving the green light to Hyundai Motor Group’s annual performance.
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