Summit Place Kia Blog

Kia Motors global sales grow over 49 percent in first half of 2010

The view from the Summit

Here at metro Detroit Kia Dealer Summit Place Kia, we thought you might be interested in knowing how Kia Motors worldwide sales have done so far this year. We recently received a press release from Kia so we thought we’d share some of the results with you.

In the first half of this year, sales from overseas plants grew 120.9% while Korean domestic growth resulted in a 27.6% increase in sales. In Europe, Kia Motors increased both its sales and its market share with strong sales of two vehicles that aren’t available here in the U.S.: Venga and cee’d.

2011 Kia Sorento

Here is the press release with more information:

(SEOUL) – Kia Motors Corporation today announced its global sales growth of 49.2% in the first half of 2010, based on shipment volume of 990,000 units, compared to the same period last year.  Export market sales, as well as domestic sales, increased significantly due to the continuous launch of new models onto the global marketplace, including Kia Cadenza, Forte, all-new Sorento and all-new Sportage.

Global sales of Kia Motors on a retail basis totaled 1 million units during the first half of 2010, an increase of 34.1%, compared to the previous year.  US market sales increased by 15.4% thanks to the successful launch of the all-new Sorento.  Although the European market continues to be affected by the economic recession and the end of the government tax support in many countries, Kia has increased sales and market share with the introduction of the new Europe-only MPV, Venga, and the strong sales of its flagship models Picanto and cee’d.

Kia cee’d

China market sales increased dramatically with 76.8% growth due to the market’s booming automobile market and high sales of new Kia models.  The Chinese auto market continues its bright prospected and Kia will continue to expand its line-up with localized versions of new models.  In general markets*, Kia’s sales increased by 54.9% with main growth coming from the Middle East and Africa.  Sales growth is expected in all general markets* undergoing economic recover, such as Latin America, Russia and Asia Pacific.

“Although intense competition is expected in the global automotive market place,” said Hyoung-Keun Lee, President of Kia Motors Corporation, “We aim to meet with our aggressive sales targets through the expansion of our dealer network and the launch of new, exciting models like the all-new Sportage and Optima and our eco-friendly vehicles.”

Kia Venga

Overseas factory sales grew 120.9% (339,000 units) over last year, helped primarily by the additional sales from its recently opened US plant in Georgia and growing demand from the China market, while sales from factories in Korea increased 27.6% (for a total of 650,000 units).  Sales volume from Kia Motors’ Slovakia plant increased 64.9% with the growth in demand of Kia vehicles from Europe, especially Spain, France and the United Kingdom.

Revenue in the first have of 2010 also reached KRW (Korean won) 10.63 trillion ($9 billion), marking the first time Kia hits the KRW 10 trillion ($8.45 billion) mark in a fiscal half; this figure is a KRW 2.45 trillion ($2.07 billion) increase over the same period of 2009.  The increase in revenue is due primarily to sales increases in the domestic and export markets, however, F/X rate movements result in a decrease in revenue of KRW 1 trillion ($845 million) due to the depreciation of the KRW against the USD (by 14%).

2011 Kia Sportage

The new 2011 Kia Sportage is here!

Here at Summit Place Kia, we have the all-new 2011 Kia Sportage in stock! So for more information on the new Sportage as well as the chance to check out the entire line of high quality, affordable Kias, you can contact us at our Waterford store by calling 248-682-6002 or by dialing 734-397-9900 for our Canton store. You can also find us on the web at www.summitplacekia.com. You can also visit us at either of our two locations: 2200 Elizabeth Lake Road in Waterford, just behind the Summit Place mall or in Canton at 41840 Michigan Avenue, just west of I-275. Once you’re here, you’ll see why everyone at Michigan and metro Detroit’s sales leader and Proud Automotive Sponsor of Michigan Athletics would “Love to see ‘ya” in a Summit Place Kia!

Editor’s notes:

*General markets includes the regions of Central and South America, the Caribbean, Asia (excluding China), the Pacific, Middle East and Africa

Bookmark To: