Kia Corporation reported that its quarterly revenue rose by 3.8% to 26.52 trillion won (around US$19.1 billion), supported by a higher average selling price, as more recreational and electrified vehicles were sold.

Operating profit increased by 0.6% to 2.88 trillion won (around US$2 billion), while its net profit grew by 2.1% to 2.27 trillion won (around US$1.6 billion).

Kia’s global retail sales of electrified vehicles increased by 3.6%, reaching 155,000 units, largely driven by demand for hybrid models and the new EV3 electric SUV.

Despite the increase in EV sales, Kia reported a 1.9% drop in global vehicle sales for the third quarter of 2024, with 763,693 units sold.

The decrease was due to a temporary production halt at some facilities for upgrades.