Profit of KIA for six months decreased by 66%July 26, 2020
The South Korean car maker summed up the disappointing first half of the year.
KIA has summed up the financial results of the first half of 2020. As a result, it became known that the company’s net profit was 392.3 billion won, which is equivalent to 280.5 million euros. This result immediately became 66% worse than last year for the same period. In June, the numbers were no longer so critical, but there is still a long way to a full recovery.
Last month, KIA dealers were able to sell 1.16 million new cars globally, down 15.4% from last year, and profits fell 3.8% to 25.94 trillion won. At the same time, South Korea coped better than most with the coronavirus epidemic, so sales inside the country in June grew by 14.6%, but abroad there was a decrease of 21.8%.
The most difficult for KIA was the second quarter of this year – in the period from early April to late June, KIA dealers were able to sell 515,050 new cars, which is 27.8% less than the result of the second quarter of 2019.
At the same time, the net profit for the period was only 126.3 billion won and decreased by 75%.
Meanwhile, KIA has revealed the debut image of its new Sonet crossover. The official premiere of the budget cross should take place on August 7 this year. It is expected that after entering the market, the model will compete with Hyundai Venue and Suzuki Vitara.
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