South Korea’s second largest automotive manufacturer, KIA Motors, reported today a record profit for Q4 2009, 603.9 billion won or $520 million. Encouraged by the almost double than predicted profit figures, KIA forecasted even greater sales numbers for 2010.
Despite the troublesome year for the automotive sector, business went very well for affordable car makers like KIA. Helped by the consumer demand for cheaper cars, the governments’ incentive schemes for new vehicles and fuel efficiency… (read more)