In the second quarter, in the U.S., Kia’s progress was impressive as it recorded a 67% increase in profits and 36% in sales, due to demand for the Optima sedan and Sportage SUV.
In the third quarter, Japanese companies recover and Kia’s market share may shrink. “As long as the company retains the current sales volume, the impact on profits will not be that big,” said said Yim Eun Young, an analyst at Dongbu Securities. “What Kia has to look out for in the second half is the impact of the strong Korean currency.”
However, this doesn’t actually mean sales will not be as impressive, because the company announced last month that it would increase its overall targets for 2011. Kia also announced that it will begin producing the Optima at its US plant in Georgia from September.
According to Kia, the sales of vehicles produced in the U.S. almost doubled in the second quarter. Kia’s market share also rose to 3.9% in the first half from 3% a year earlier.
However, this doesn’t actually mean sales will not be as impressive, because the company announced last month that it would increase its overall targets for 2011. Kia also announced that it will begin producing the Optima at its US plant in Georgia from September.
According to Kia, the sales of vehicles produced in the U.S. almost doubled in the second quarter. Kia’s market share also rose to 3.9% in the first half from 3% a year earlier.
