Kia, a subsidiary of Hyundai Motor Group, has announced their first quarter results, with sales, revenue and net profit all increasing significantly year-on-year, and the strong development of electric vehicles also performed well in the first quarter, according to foreign media reports on April 27.
According to Kia, they sold 768,251 vehicles worldwide in the first quarter, up 12% year-on-year, with 626,511 units sold in overseas markets, up 11.1% year-on-year, and 141,740 units sold in Korea, up 16.5% year-on-year.
Kia disclosed in their earnings report that they sold 133,000 electric vehicles, including hybrids, plug-in hybrids and pure electric vehicles, in the first quarter, up 21.1 per cent year-on-year, and their share of sales increased to 18.1 per cent, up 2.3 percentage points from the same period last year.
Kia’s revenue in the first quarter was also boosted by the significant increase in sales. The report showed that their revenue in the first quarter was 23.69 trillion won (currently about RMB 122.714 billion), up 29.1% year-on-year.
In terms of profits, the report showed that they made an operating profit of 2.87 trillion won (currently about RMB 14.867 billion) in the first quarter, up 78.9% year-on-year, and a net profit of 2.12 trillion won (currently about RMB 10.982 billion), up 105.3% year-on-year.