Mexican Media Brands
Kia’s Revenue, Profits Shrink
Third-quarter vehicle sales climbed 13% to 712,000 units for Kia Motors Corp.
#economics
Share
Third-quarter vehicle sales climbed 13% to 712,000 units for Kia Motors Corp. But revenue slipped 2% to 11.5 trillion won ($11 billion).
Operating income for the Hyundai Motor Co. affiliate fell 19% to 567 billion won ($536 million). Net income dropped 27% to 657 billion won ($622 million).
Kia, which makes 85% of its vehicles overseas, blames the quarterly declines on the strong won, which erodes the value of revenue repatriated to South Korea. The company's global vehicle sales grew 9% to 2.26 million units in the first nine months of 2014.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Auto vs. Tech: Guess Who Wins
Matthew Simoncini, president and CEO of Lear Corp., provided some fairly compelling figures this week at the CAR Management Briefing Seminars that show just how out-of-whack the valuations of tech companies are vis-à-vis auto companies.