Bloomberg reports Kia has missed analyst profit estimates for the second quarter after net income slipped to $965 million at current conversion rates. On average, analysts estimated the South Korean automaker would bring in somewhere around $1.1 billion, though Kia did see its revenue increase by 8.4 percent. The automaker said its less-than-estimated profit results came down to increased spending as the company strove to market its new Pride subcompact and K9 luxury sedan (a model that will be
In spite of a ridiculous 247WallStreet.com article that simply will not die, Kia appears to be doing anything but going out of business. Hyundai's "weakest brand," as it was called, just posted a 66 percent increase in profit for Q3. Kia's home market sales, in South Korea, rose by 25 percent, while international sales were only a shade off, increasing by 24 percent – in the U.S. specifically, sales were up eight percent.
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