Kia reports 40% jump in Q2 profit by an increase in high-end SUV sales and decreased incentives
Net profit for the three months ended in June rose to 1.88 trillion won ($1.43 billion) from 1.34 trillion won in the same period of last year, the company said in a statement.
The second-quarter bottom line was buoyed by increased sales of high-end SUV models, decreased incentives and the won's weakness against the dollar, reports
Such factors helped offset the carmaker's production losses derived from a prolonged chip shortage and disruptions of parts supplies,
Operating profit also soared 50 percent to 2.23 trillion won in the second quarter from 1.48 trillion won a year ago. Sales were up 19 percent to 21.87 trillion won from 18.34 trillion won.
From January to June, net profit climbed 23 per cent to 2.91 trillion won from 2.38 trillion won a year earlier.
Operating profit jumped 50 per cent to 3.84 trillion won from 2.56 trillion won during the same period. Sales gained 15 per cent to 40.23 trillion won from 34.92 trillion won.
Kia's parent company
Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same period of last year.
In the six-month period,
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