Kia Takes Off with Eco-Friendly Vehicles… Global Market Share Surpasses 4%, Accelerating Growth

*This content was translated by AI.View Original

Despite a contraction in global industrial demand, Kia achieved its highest-ever market share and posted strong third-quarter results. On the 30th, Kia announced its operating performance, reporting global wholesale sales of 847,355 units, revenue of 31.5974 trillion won, and an operating profit of 1.8183 trillion won for the third quarter of 2026. Revenue increased by 10.1% year-on-year, while operating profit rose by 24.3%.

Even amid adverse conditions where global industrial demand declined by 6.0%, global local retail sales grew by 6.9% to approximately 829,000 units. Driven by this momentum, Kia's global market share reached an all-time high of 4.0% (5.0% excluding China). In particular, the domestic market share hit a quarterly record of 36.8%, and the U.S. market share reached a quarterly record of 5.8%. The company also recorded significant sales growth rates of 16.9% in Western Europe and 38.5% in India.

Electrified vehicles (xEVs) led the growth. Third-quarter xEV sales increased by 47.0% year-on-year to reach 300,000 units, with their share of total sales rising by 9.8 percentage points to 36.2%. In the U.S., sales of the HYBE Lead (HEV) surged by 118%, pushing its market share past double digits to 10.6%. In Western Europe, electric vehicle (EV) sales spiked by 163%, resulting in a market share of 6.6%.

The average selling price (ASP) on a consolidated basis rose by 2.3% year-on-year to 39.5 million won, driven by the expansion of eco-friendly vehicle sales in advanced markets. However, rising raw material prices and the prolonged Middle East conflict resulted in external factor costs totaling 600 billion won, which lowered the operating profit margin by 1.9 percentage points. The cost of goods sold ratio stood at 84.1%, while the debt ratio improved to 59.9%. Kia emphasized that profitability would recover flexibly based on its fundamental competitiveness once geopolitical risks are resolved.

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*This content was translated by AI.View Original