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UK dealer development team sets standard for Kia's European growth

Kia Motors has announced first-half 2011 financial results which show strong sales and revenue growth across all global regions.

 

Global retail sales in the first six months of 2011 were up 19.9% (1.2 million units) compared to the same period in 2010 with all regions reporting increases in volume.

Despite a depressed market in Europe (down 2.4%) Kia reported an increase of 0.7% with record first-half sales of 137,000 units.

Market share in Europe was up 0.1% to 1.9%. Across Europe the recently launched Sportage was up 197%, the Venga (B-segment MPV) up 39% and the Picanto, launched in late Q2, has got off to a strong start with 9,600 units sold in the first-half.

In the second-half of 2011 the aim is to grow quarter-on-quarter with new Picanto and new Rio and, through an increase in supply, Sportage.

New Rio will be marketed on its environmental credentials: the 1.1 CRDi version will have the lowest CO2 emissions of any non-electric vehicle at just 85g/km - and is expected to improve Kia's performance in Europe's largest segment.

Dealer representation will continue to grow and network competitiveness will be the focus of dedicated teams such as the new dealer development department in the UK.

Kia's global revenue increased by 30.5% to 22,238 billion Korean Won (£308.7 billion) compared to the first half of 2010.

New and recently-launched models such as the A-segment Picanto hatchback and the Sportage crossover resulted in a 2011 Q2 performance up some 8.7% on the first three months of the year.

All regions saw strong revenue growth with the United States showing the most significant rise of 54.1% to 6,688 billion KRW.

Europe experienced growth of 24.2% (6,062 billion KRW/£3.5bn) whilst Korea grew by 21.2% to 9,123 billion KRW and remained Kia's largest market.

Gross profit for the first half of 2011 is up 32.9% over the same period in 2010 at 4,870 billion KRW and operating profit has increased by 69.5% over the same period at 1,872 billion KRW.

 

 

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