Car manufacturers all over the world are running at great loss but Kia remains in the black.
Kia Motors are South Korea’s second largest car manufacturer and despite the global economic crisis are having a good time.
They have spent the last two consecutive quarters in the black thanks to favourable conditions. The weaker won and the popularity of their new models such as the Kia Soul have helped them turn out a profit.
In this year's first quarter to March, it reported net profit of 97.4 billion won (73 million dollars), a reverse from a 24.8 billion won deficit a year earlier.
Kia sold 79,000 vehicles in the US, up 6.4 percent from a year earlier, but exports fell 20.6 percent to 141,000 units amid a global economic slump. Even then, 70% of Kia’s sales are in exports and the conditions of the won appear to continue to be favourable.
E. Dooley
26/04/2009
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