KIA reported a 40% leap in Q2 of profit riding a high -class SUV
KIA reported a 40% leap in Q2 of profit riding a high -class SUV
Net profit for three months which ended in June rose to 1.88 trillion Won ($ 1.43 billion) from 1.34 trillion Won in the same period last year, the company said in a statement.
The point is the second quarter is supported by an increase in sales of upper -class SUV models, decreased incentives and weaknesses of Won to the dollar, reporting the Yonhap news agency.
Such factors help compensate for the loss of car makers producing from prolonged chips and disruption of spare parts, Kia said.
Operating profit also jumped 50 percent to 2.23 trillion Won in the second quarter of 1.48 trillion Won a year ago. Sales rose 19 percent to 21.87 trillion Won from 18.34 trillion Won.
From January to June, net profit rose 23 percent to 2.91 trillion Won from 2.38 trillion Won a year earlier.
Operating profit jumped 50 percent to 3.84 trillion Won from 2.56 trillion Won during the same period. Sales rose 15 percent to 40.23 trillion Won from 34.92 trillion Won.
The MCH parent company, Hyundai Motor Group previously said that the second quarter net profit jumped 56 percent from the previous year in a better mixture of products and Won was weak.
Net profit for three months ended in June rose to 3.08 trillion Won (US $ 2.34 billion) from 1.98 trillion Won over the same period last year.
In the six -month period, Hyundai sold a total of 1.88 million vehicles, reaching 43 percent of its sales target of 4.34 million units for this year.
