Kia posts record Q3 revenue of KRW 31.6 trillion as electrified vehicle sales jump 47%
Kia's third-quarter revenue rose 10.1% to a record KRW 31.6 trillion, and operating profit climbed 24.3%, as electrified vehicles reached 36.2% of its global retail sales.
- KRW 31.6 trillion
- KRW 1.82 trillion
- 847,355 units
- 300,000 units
What Happened
Kia reported record third-quarter revenue of KRW 31.6 trillion, up 10.1 percent year on year, and operating profit of KRW 1.82 trillion, up 24.3 percent. The company said higher sales volumes and an improved average selling price, supported by increased hybrid (HEV) and electric vehicle (EV) sales in major markets, drove the result. Operating profit margin reached 5.8 percent, and Kia said it maintained solid underlying earnings momentum despite continued external headwinds, supported by higher sales volumes. Net profit including non-controlling interest fell 9.6 percent to KRW 1.29 trillion. The figures are preliminary, unaudited consolidated results under K-IFRS and are subject to change after official audit.
KRW 31.6 trillion
Up 10.1% year on year, Kia's highest third-quarter revenue.
- KRW 31,597.4bn vs KRW 28,686.0bn (+10.1%)
- KRW 1,818.3bn vs KRW 1,462.3bn (+24.3%)
- KRW 1,285.5bn vs KRW 1,422.5bn (-9.6%)
Global wholesale sales came to 847,355 vehicles in the third quarter, up 7.9 percent year on year, with sales in Korea up 2.2 percent to 141,013 units and sales outside Korea up 9.2 percent to 706,342 units. Global retail sales reached approximately 829,000 units, up 6.9 percent, even as global industry demand declined 6 percent. Kia's global retail market share reached an all-time high of 4 percent, with a record 5 percent excluding China, while market share also hit quarterly highs of 36.8 percent in Korea and 5.8 percent in the U.S. Sales growth in North America, Europe and India helped offset lower sales in markets affected by external disruptions, particularly the Middle East.
- Korea: retail sales up 2.2 percent, supported by strong EV sales and the Seltos.
- U.S.: retail sales up 7.8 percent, supported by the new Telluride and stronger HEV sales across key SUV models.
- Western Europe: sales up 16.9 percent, led by a broader EV lineup.
- India: sales up 38.5 percent, driven by the new Seltos and Sonet.
- Electrified retail sales rose 47 percent year on year to 300,000 units, accounting for 36.2 percent of global retail sales, up 9.8 percentage points.
- HEV retail sales rose 46 percent to nearly 172,000 units; in the U.S., HEV sales increased 118 percent, outpacing market growth.
- EV retail sales rose 75.4 percent to nearly 123,000 units, driven by strong sales of new EV models and the PV5.
- In Western Europe, Kia's EV sales significantly outpaced market growth.
Kia expects solid sales growth to continue in the fourth quarter, supported by its competitive product lineup and balanced powertrain portfolio. In Korea it will maintain EV sales momentum while expanding HEV sales, and in the U.S. it will strengthen HEV sales with models including the Seltos and Telluride hybrids while expanding its EV lineup with the EV3. In Western Europe it will continue building momentum with its mass-market EV lineup and the PV5 on strong EV demand, and in India it will build on the new Seltos momentum while expanding its EV and HEV offerings.
Previously from Kia
Kia has been building out a purpose-built vehicle (PBV) dealer network as a separate growth push. In October it brought PBV dealer principals from Europe, North America, the Middle East and Asia Pacific to Korea for a three-day program backing its target of 232,000 annual PBV sales by 2030.
Background drawn from MotorClaw's earlier coverage of Kia's official releases.
Why this matters
Kia's quarter shows electrified models now carry a large share of its business: 36.2% of global retail sales, up 9.8 percentage points in a year. That mix, plus a higher average selling price and more volume, lifted revenue to a record and profit by nearly a quarter even as global industry demand fell 6%. The growth is reported in Korea, the U.S., Western Europe and India, while sales fell in markets disrupted externally, particularly the Middle East.
Terms in This Story
- HEV
- Hybrid electric vehicle: a car combining an internal combustion engine with an electric motor and battery that is not plugged in to recharge.
- EV
- Battery-electric vehicle: a car driven solely by an electric motor drawing power from an on-board battery charged from the grid.
- Operating profit margin
- Operating profit as a share of revenue, showing how much a company earns from its core operations before interest and taxes.
- Wholesale sales
- Vehicles sold by the manufacturer to dealers and distributors, rather than directly to retail customers.
Summarised from the linked release; details can be imperfect — always verify against the original source.