Kia announces positive second quarter numbers, sales of EVs nearly double

Kia Corporation declared its 2022 second-quarter results and reported 21.88 trillion Korean won (KRW) and an operating profit of 2.23 trillion KRW. Kia earned an operating profit margin of 10.2 per cent. Kia reported sales out of Korea registered a decrease of 2.1 per cent which is a fall of 5,92,881 units while sales figures in the home market fell by 5 per cent compared to the preceding year. Kia attributed this outcome due to disruption in production due to parts shortage.

Kia, between April and June this year, sold 7,33,749 units around the world which is a fall of 2.7 per cent compared to last year. Outside Korea, the automaker sold 5,92,881 units which is a decrease of 2.1 per cent. In the second quarter, Kia’s operating profit increased by 50 per cent to 2.23 trillion KRW from 1.49 trillion KRW a year earlier along with an operating profit margin of 10.2 per cent.

Kia recorded sales of 1,33,000 electrified vehicles, accounting for 17.7 per cent of overall sales which is an 8.7 percentage point increase compared to last year. Of the electrified vehicle sales figures, sales of BEV models accounted for 44,000 units, a 98 per cent increase year on year. The automaker also shared that in the long term, it is aiming to achieve annual sales of 1.2 million units of BEVs and 0.2 million units of PBVs by 2030.

Despite the global semiconductor shortage which Kia is expecting to improve, Kia shared that it is expecting the demand for automotive products to increase and the demand for eco-friendly vehicles continues to grow.