AutoBeta(AutoBeta.net)07/06 Report--

On July 5, Yueda Kia released the latest sales figures. Figures show that Yueda Kia sold 20655 vehicles in June, up 32.7 per cent from a year earlier. Officials say this is the second time that monthly sales have exceeded 20, 000 since November 2020, and cumulative sales from January to June in 2024 were 109589, up 73.1 per cent from a year earlier.

Judging from the latest sales figures, Yueda Kia has achieved year-on-year growth in both June sales and cumulative sales in the previous six months, which means it is coming out of the trough. It is worth mentioning that the recovery in Yueda Kia sales is mainly due to the contribution of export sales rather than domestic market sales. It is understood that from January to June this year, the export sales of Yueda Kia ranked first among the joint venture car enterprises. officials said that at present, Yueda Kia has built the export product matrix of many models, such as EV5, Sonai, Seatus, K5, Huanchi, Lion Platinum, etc., and the export countries cover more than 50 countries, including the Middle East, Asia-Pacific and Central and South America.

In the past 2023, Kia Motor reached record highs in both operating income and net profit. According to the 2023 financial results, during the reporting period, Kia Motor Company achieved a year-on-year increase in operating income of 15.3% to 99.8 trillion won; net profit increased by 62.3% to 8.78 trillion won; in terms of sales, Kia Motor sold 3087384 vehicles worldwide in 2023, an increase of 6.4% over the same period last year. It is worth mentioning that as a joint venture in China, Jiangsu Yueda Kia Automobile Co., Ltd. is still insolvent, with total assets of 2.08 trillion won and liabilities of 2.48 trillion won, with an asset-liability ratio of 119%. On the sales side, retail data show that Yueda Kia sold a total of 83875 vehicles in 2023, down 11.40% from a year earlier.

Yueda Kia officials said that in the first half of 2024, the transformation of China's automobile industry accelerated, competition escalated, and the competition between car companies entered a white-hot stage. In the face of more diversified consumer demand and evolving market pattern, Yueda Kia accelerates its transformation around product innovation, channel innovation, service innovation and so on. As for the Chinese market, although Kia's sales in the Chinese market are sluggish, Kia has repeatedly stressed that it will not give up the Chinese market and tries to surpass it with the help of new energy vehicles. Officials pointed out: "for the Chinese market, Yueda Kia does not blindly seek to catch up with the trend, but always maintain its own pace." It is worth mentioning that the current domestic market is experiencing an unprecedented "price war". In view of the "price war", Yang Honghai, chief operating officer of Kia China, said at the Beijing auto show that the price war of "price for quantity" is an established fact for the industry to enter into deep competition, but the "price war" is only short-term effective, unsustainable and unhealthy competition, and revealed that Kia will also try to cooperate with Chinese local enterprises in the future. Including Xiaomi, Huawei and other technology enterprises.

At present, Kia is shifting its focus to the global market, achieving rapid year-on-year growth by selling its models in China overseas. At the same time, in order to reverse the sluggish sales performance in China, Kia has also begun to launch new energy vehicles. In April this year, Kia announced its medium-and long-term development strategy, saying that it would expand its hybrid vehicle lineup in the future, and reiterated that the ultimate goal of the company's electrification strategy is electric vehicles, and to achieve the goal of global sales of 4.3 million vehicles (including 2.482 million new energy vehicles), 1.6 million electric vehicles and 250000 customized (PBV) electric vehicles by 2030.

Kia is scheduled to increase its hybrid models to six this year, eight in 2026 and nine in 2028, with sales rising from 307000 in 2024 to 602000 in 2027 and 1.6 million by 2030. In addition, Kia will launch mid-range electric vehicles to gradually increase sales from 307000 in 2024 to 1.147 million in 2027 and to 1.6 million by 2030.

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