Kia profits up 67% during second-quarter, boosted by Optima and Sportage sales in U.S.

Kia has just announced that its second-quater profit rose 67 percent as the Korean automaker sold more sedans and SUVs in the United States. Kia’s net income came in at 1.13 trillion won ($1.07 billon USD) during the three months that ended June 30, up from a revised 676.1 billion won in 2010

Kia’s global sales were up 21 percent during the last quarter compared to the same period in 2012. The increase was boosted by a 36 percent surge in exports to the United States.

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“As long as the company retains the current sales volume, the impact on profits will not be that big,” said Yim Eun Young, an analyst at Dongbu Securities Co. “What Kia has to look out for in the second half is the impact of the strong Korean currency.”

Kia’s U.S. market share was up 4.3 percent in the U.S. in the second quarter thanks to strong demand for the Kia Optima and the Kia Sportage.

Kia plans to start producing the Optima in Georgia starting September.

– By: Omar Rana

Source: Automotive News