Kia Motors posts 2.3% decrease in overseas sales in July
Kia Motors posts 2.3% decrease in overseas sales in July - 71,790 Kia vehicles sold overseas in July - Sales in Europe, North America and general market post -1.4%, 1.8% and -10.5% year-on-year growth, respectively, in July - Cumulative overseas sales through July post 4% year-on-year gain (SEOUL) August 2, 2006 -- Kia Motors Corporation announced today that its overseas retail sales of passenger cars and light trucks in July 2006 recorded 71,790 units, representing a 2.3% year-on-year decrease. By region, Europe posted a year-on-year sales decline of 1.4% in July with 26,895 units sold. Meanwhile, sales of Kia vehicles in North America and the general market recorded 29,277 units (1.8% year-on-year increase) and 15,618 (10.5% year-on-year decrease), respectively. Cumulatively through the first seven months of 2006, Kia's overseas sales have risen by 4% year-on-year to reach 495,506 units, with Europe showing the largest gain at 7.2%. Meanwhile, North America and the general market have seen sales increase by 2.8% and 0.5%, respectively, through the month of July. So far in 2006, Kia's best selling model in export markets has been the C-segment Cerato (also known as 'Spectra' in some markets) with 79,479 units sold. Meanwhile, the Sorento mid-size SUV recorded the second most sales units with 73,836 vehicles delivered. The A-segment Picanto -- a highly popular seller in Europe -- was close behind with 73,232 units sold. Other strong sellers so far in 2006 have been the B-segment Rio (62,217 units) and the Sportage compact SUV (60,279 units). Jung-Moon Park, Senior Executive Vice President and COO of Kia Motors Corporation, said, "The continued rise in global oil prices along with strengthened incentives by competitors in advanced markets such as the US has put downward pressure on the entire automobile industry." "However, we remain optimistic about realizing better performance in the coming months thanks to stepped up marketing activities for recently introduced new models such as the completely redesigned Carens (Rondo) compact MPV, D-segment Magentis (Optima) and Carnival (Sedona) MPV," he added. Editor's notes: 1) Figures do not include domestic sales and KD (knock down) exports assembled at overseas plants including China. 2) "General market" includes the regions of Central & South America, Asia & Pacific, and Middle East & Africa. Kia Motors Corporation ( <http://autoway.kia.co.kr/exchweb/bin/redir.asp?URL=http://www.kiamotors.com /> www.kiamotors.com or www.kia.com <http://www.kia.com/> ) -- one of the fastest growing automakers in the world -- was founded in 1944 and is Korea's oldest manufacturer of motor vehicles. As part of the Hyundai-Kia Automotive Group, Kia aims to become one of the world's premier automotive brands. Kia's 12 manufacturing and assembly operations in 7 countries produce more than 1.1 million vehicles a year that are sold and serviced through a network of distributors and dealers covering 160 countries. Kia today has over 32,500 employees and annual revenues of almost $16 billion. It is the major sponsor of the Australian Tennis Open and an official worldwide sponsor of the Davis Cup. From 2007 to 2014, Kia will be an official automotive partner of FIFA -- the governing body of the FIFA World Cup. Kia Motors Corporation's brand slogan -- "The Power to Surprise" -- represents the company's global commitment to surpassing customer expectations through continuous automotive innovation.