- Sales volume up 15.4% since September, 93,916 unit increase from 2003.
- Strong exports continue with 41.7% increase year-on-year.
- Revenue increases 19.7% on strength of exports.
(SEOUL) October 28, 2004 -- Kia Motors Corporation (KMC) today announced that auto sales rose 15.4% year-on-year to 703,175 units, thanks to brisk exports to Europe and North America and the successful launch of the new compact Sportage SUV.
Exports jumped 41.7% on year to 516,604 units due mainly to strong sales of Kia’s Optima passenger car, Sorento SUV and popular new vehicles: the sporty Cerato and colorful Picanto.
North America showed an increase in exports of 57,371 units, representing a 33.4% gain compared to last year. In Europe, where Kia is currently the fastest growing auto brand, export volume increased to 176,896 units, representing a 63.8% rise. Meanwhile, export shipments to China also showed a noticeable increase of 19.5%.
Revenues also increased by 19.7% on the strength of exports, which currently have an average selling price of USD 11,700.
“We are pleased with Kia’s third quarter results, which were achieved based on strong sales of the Optima, Sorento and the new 2004 models Cerato and Picanto,” said Mr. Yong-Hwan Kim, Senior Executive Vice President and COO of Kia Motors. “This success is due to our continued pursuit of providing the world with exciting new high-quality cars at an unbeatable value. We will continue to pave the way for future success with the imminent worldwide introduction of the new Sportage and with the start of construction on our new Slovakia plant.”
Founded in 1944 and now celebrating its 60th anniversary, Kia Motors Corporation (www.kiamotors.com) is Korea’s oldest manufacturer of automobiles. As part of the Hyundai-Kia Automotive Group, Kia is among the world’s fastest growing automobile companies and aims to be a top five global automaker by 2010. Kia’s 15 manufacturing and assembly operations in 12 countries make more than a million vehicles a year that are sold and serviced through a network of distributors and dealers covering 190 countries. Kia today has 30,000 employees and annual revenues of $12 billion. It is the major sponsor of the Australian Tennis Open and an international sponsor of the Davis Cup.