Kia Motors Corp. beat forecasts and posted a record quarterly profit last Friday. The South Korean carmaker has plenty to rejoice about since it is expected to continue its winning streak until at least next year with sales predicted to increase by a double-digit percentage.
Kia is part of Hyundai Motor Group along with affiliate Hyundai Motor Co. and is the world’s No. 4 carmaker based on first-half sales. Analysts say that Kia will continue to outpace rivals due to new models and the growing demand for fuel-efficient smaller cars. Kia has a bright outlook and expressed confidence for 2010. In the first nine months, US sales were up 5% to 238,570 units. But like other carmakers, Kia is worried about the drop in car demand when government ends the incentives it has been giving to buy fuel-efficient cars.
Read Article