Kia Motors sales in China up 101.3% in July

Kia Motors Corp., the biggest subsidiary of South Korea's automobile tycoon Hyundai Motor Company, saw its total sales volume in China rocket 101.3% year on year in July 2009.
 
Presently, the Kia has become the fast-growing auto brand in the Chinese market. Dongfeng Yueda Kia Motor Co., Ltd. (DYK), a joint venture of Kia Motors, sold 21,292 vehicles last month, hiking 104%.

The hike was ascribed to the rising sales of its products. The monthly sales of Sportage and Cerato stood above 4,000 and 8,000, respectively. Moreover, the Forte, a sedan model that just hit the market, contributed 5,000 to its total sales.

DYK was jointly established by China's largest commercial vehicle maker Dongfeng Motor Corp., Jiangsu Yueda Investment Co., Ltd., and Kia Motors.

Because of the South Korean currency depreciation and the sales surge, Kia Motors separately gained operating profit of KRW 419.2 billion and net profit of KRW 444.5 billion in the first half of 2009, up 91.5% and over 500%.