Mexican Media Brands
Kia Posts First Operating Loss in 10 Years
Kia Motors Corp. swung to a 42 billion-won ($378 million) operating loss for July-September, its first such loss in a decade.
#economics
Share
Kia Motors Corp. swung to a 42 billion-won ($378 million) operating loss for July-September, its first such loss in a decade.
The turnabout is the result of Kia booking nearly 1 trillion won ($886 million) to cover a court ruling that affects how it calculates overtime pay and other benefits.
The company’s revenue for the quarter soared 11% to 14.1 trillion won ($12.4 billion), even though unit sales slid 4% to about 700,000 vehicles. The company says an upturn in domestic sales softened slumps in China and the U.S.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .