Kia posts record operating profit in Q2


Kia reported a record-breaking profit in the second quarter, attributing it to the improved product mix, higher average selling price, and favorable exchange rates. During April-June, Kia achieved two new records with 3.64 trillion won in operating profit and a 13.2 percent operating profit margin. Despite a slight decrease in global vehicle sales compared to the same period last year, Kia's revenue increased by 5 percent. The automaker's increased profitability was driven by a shift towards high-value-added models, higher average selling prices, stable raw material prices, favorable exchange rates, and reduced incentives. Kia highlighted strong sales in North America, particularly for recreational and electric vehicles. The company plans to focus on leading the popularization of electric vehicles with new launches and enhancements in the second half of the year. Additionally, Kia aims to improve sales volume and profitability by introducing new models in the US and maintaining optimal inventory levels to adapt to market demands.


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