| 01 Aug 2010 |
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Kia Motors global sales grow 49.2% in 1H 2010
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-Sales from overseas plants grow 120.9% while domestic growth represents 27.6%
-KiaKia
increases sales and market share in Europe with strong Venga and cee'd sales
-For the first time, KiaKia hits KRW 10 trillion mark in revenue for a fiscal half
today announced its global sales growth of 49.2% in the first half of 2010, based on shipment volume of 990,000 units, compared to the same period last year. Export market sales, as well as domestic sales, increased significantly due to the continuous launch of new models onto the global marketplace, including KiaKia Cadenza, Forte (Cerato), all-new Sorento and all-new Sportage. Global sales of Kia MotorsKia Motors
on a retail basis totaled 1 million units during the first half of 2010, an increase of 34.1%, compared to the previous year. US market sales increased by 15.4% thanks to the successful launch of the all-new Sorento. Although the European market continues to be affected by the economic recession and the end of the government tax support in many countries, KiaKia has increased sales and market share with the introduction of the new Europe-only MPV, Venga, and the strong sales of its flagship models Picanto and cee'd. China market sales increased dramatically with 76.8% growth due to the market's booming automobile market and high sales of new KiaKia models. The Chinese auto market continues its bright prospected and KiaKia will continue to expand its line-up with localized versions of new models. In general markets*, KiaKia's sales increased by 54.9% with main growth coming from the Middle East and Africa. Sales growth is expected in all general markets* undergoing economic recover, such as Latin America, Russia and Asia Pacific.
"Although intense competition is expected in the global automotive market place," said Hyoung-Keun Lee, President of Kia Motors CorporationKia Motors Corporation, "We aim to meet with our aggressive sales targets through the expansion of our dealer network and the launch of new, exciting models like the all-new Sportage and Optima and our eco-friendly vehicles."
Overseas factory sales grew 120.9% (339,000 units) over last year, helped primarily by the additional sales from its recently opened US plant in Georgia and growing demand from the China market, while sales from factories in Korea increased 27.6% (for a total of 650,000 units). Sales volume from Kia MotorsKia Motors
' Slovakia plant increased 64.9% with the growth in demand of KiaKia vehicles from Europe, especially Spain, France and the United Kingdom. Revenue in the first have of 2010 also reached KRW 10.63 trillion, marking the first time KiaKia hits the KRW 10 trillion mark in a fiscal half; this figure is a KRW 2.45 trillion increase over the same period of 2009. The increase in revenue is due primarily to sales increases in the domestic and export markets, however, F/X rate movements result in a decrease in revenue of KRW 1 trillion due to the depreciation of the KRW against the USD (by 14%).
-Ends-
Editor's notes:
*General markets includes the regions of Central and South America, the Caribbean, Asia (excluding China), the Pacific, Middle East and Africa
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Kia Motors CorporationKia Motors Corporation (www.kia.com) -- a maker of quality vehicles for the young-at-heart -- was founded in 1944 and is Korea's oldest manufacturer of motor vehicles. As part of the Hyundai-KiaKia Automotive Group, KiaKia aims to become one of the world's premier automotive brands. Over 1.5 million vehicles a year are produced in 13 manufacturing and assembly operations in eight countries which are then sold and serviced through a network of distributors and dealers covering 172 countries. KiaKia today has over 42,000 employees worldwide and annual revenues of over US$14.6 billion. It is the major sponsor of the Australian Open and an official automotive partner of FIFA -- the governing body of the FIFA World Cup™. Kia Motors CorporationKia Motors Corporation's brand slogan -- "The Power to Surprise" -- represents the company's global commitment to surpassing customer expectations through continuous automotive innovation.
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