The first quarter of 2014 saw a 5.2% upturn in business for South Korean manufacturer Kia Motors.
Despite flat trading in its domestic market and a strong Korean Won (KRW) to US Dollar exchange rate, the company registered an increase in global sales to over 687,000 units in the first three months of the year.
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Kia’s European market thrived in particular, with a registered growth rate of 7.9% to 89,000 units.
The company also reported an increase in factory production in the first quarter, with Korean plants producing 433,000 vehicles and its overseas plants in Europe, China and the US delivering 339,000 units, a 9.3% and 10.8% increase, respectively.
Overall, the company posted a 7.6% improvement in revenue levels to KRW 11,900bn (£6.84bn), benefiting from increased gross and operating profit, up to KRW 2,500bn and KRW 736bn, respectively.
According to Kia, the performance was sustained by boosted global RV sales and in Europe in particular, RV sales amounted to 36% of Q1 sales, compared to 29% in Q1 2013.
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