Kia announces 2020 fourth quarter business results
Kia today announced its 2020 fourth-quarter business results, reporting a 5 percent year-on-year rise in quarterly revenue to KRW 16.91 trillion.
Sales in Korea decreased 5.2 percent to 137,389 units, due to the ongoing challenges presented by the Covid-19 pandemic and product disruptions. The company’s fourth-quarter operating profit more than doubled from a year earlier to KRW 1.28 trillion, with an operating profit margin at 7.6%. The company’s net profit also increased to KRW 976.8 billion, up 182 percent during the same period.
For 2021, Kia is targeting global sales of 2.92 million units, a 12.1 percent increase compared to 2020 global sales volume. The company is targeting sales in Korea of 535,000 units and 2.39 million units for sales outside of Korea. Kia will continue to enhance its product lineup with new models, including the launch of its first dedicated battery electric vehicle model.
Jan 27, 2021 at 12:16