For some time now we knew that the Koreans were doing pretty well financially but the latest of sales figures proof just how much we might be underestimating Kia.
Hard figures suggest that Kia’s accountants drew the line at a total profit of $890 million for the first three months of 2011.
Given the 465.9 million USD they managed in the first quarter of 2010, the percentages equate to a stunning if nothing else increase of 91%.
It’s not just profits because sales for Kia were also increased by a reasonable 37 percent and they ended up with 10 billion dollars in cash.
These figures certainly seem like something hard to understand for us simpletons, but they are pretty standard stuff for the up and coming crowds of the major automotive manufacturers.
Just one thing is easy to understand, over the last few year we’ve seen Korean manufacturers from making second hand cars new to making class leading vehicles of the highest technology.
Massive sales, massive profits and general financial well being simply sets Kia up for me to target practice my snide remarks.
On the other hand, nobody could say that Kia didn’t work enough for this so that they deserve their winnings at the end of the period.
I guess they won’t have problems covering the Kia Spectra fuel tank recall now won’t they?