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
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.
That has meant 541,884 retail sales, earning net income of 666.6 Korean won ($593 million) and an operating profit of 421 billion won ($375M U.S.). Sales of the new Kia K5/Optima
have been credited – and we're sure new Sportage
sales haven't hurt – and record profits are expected again in the fourth quarter.