Kia Corporation has announced its business results for Q1 2021.The company reported a 13.8 percent year-on-year growth in quarterly revenue to KRW 16.58 trillion.

During the January to March period, Kia sold 689,990 units across global markets, a 6.4 percent increase compared to Q1 2020. Sales in Korea rose by 11.4 percent to 130,075 units, with strong sales of the company’s newer models, including the Sorento and Carnival, behind the increase.

Sales outside of Korea also saw a 5.3 percent increase, rising to 559,915 units, alongside significant growth in India. The Kia Sonet alone sold over 25,000 units in India during the first three months, contributing to a 38.3 percent year-on-year increase in Indian sales.

Revenue

* Net profit includes non-controlling interest * Tentative under K-IFRS

The company’s first-quarter operating profit more than doubled from a year earlier to KRW 1.08 trillion, with an operating profit margin of 6.5 percent. The company’s net profit also significantly increased to KRW 1.04 trillion, up 289.2 percent during the same period.

The strong performance was supported by Kia’s enhanced global product variety as well as the success of the brand’s RV models, including Telluride, Seltos, and Sorento SUVs along with the Carnival minivan. Sales of Kia’s RV models accounted for 59.7 percent of the total sales volume, the highest ever RV share and a 6.4 percentage points increase from the same period last year.

For 2021, Kia is aiming for global sales of 2.92 million units, a 12.1 percent increase compared to 2020 global sales volumes. The company is targeting domestic sales of 535,000 units and 2.39 million units for sales outside of Korea. Kia expects automobile demand to improve alongside the ongoing economic recovery from the global pandemic, but the situation is still uncertain.

In terms of chip supply issues, the company will flexibly adjust its production plans in line with supply status and preventively secure its component inventory while looking out for alternative semiconductor parts to minimise the impact on its production.

Kia will also continue to focus on implementing its mid to long-term business strategy ‘Plan S’ as well as improving sales momentum and profitability through new models, including their new K8 sedan and the company’s first dedicated electric vehicle, EV6. (MT)

Comments (0)

ADD COMMENT

Link Copied!

AU Small Finance Bank has partnered with Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, to introduce 'Suhana Safar', a scheme that links Recurring Deposits (RD) to auto loans. The initiative is aimed at first-time car buyers and applies to the Alto K10, S-Presso, Celerio and WagonR models.

Under the programme, customers open an RD account with AU Small Finance Bank and deposit a monthly amount equivalent to the future car EMI for 3 to 6 months. Upon maturity, the accumulated funds, which have earned interest, are used as the down payment for the vehicle, after which the bank provides the auto loan.

The scheme allows customers to save and earn interest while demonstrating repayment capacity before committing to a loan. The bank also uses this process to evaluate creditworthiness.

AU Small Finance Bank offers RD interest rates of 4.75 percent to 7.40 percent per annum for the general public, and 5.25 percent to 7.90 percent per annum for senior citizens.

Comments (0)

ADD COMMENT

Link Copied!

Czech automaker Skoda Auto India has introduced the new Kodiaq RS, the first SUV to carry the performance-focused RS badge in the Indian market at INR 6.69 million (ex-showroom).

The company limited the initial release to 50 units, which were sold out within six minutes of launch. This release aligns with the 50th anniversary of the RS badge and the 125th year of the brand’s motorsport history.

Ashish Gupta, Brand Director, Skoda Auto India, said, “The RS badge represents an iconic performance legacy. Bringing it to our flagship 4x4, all-terrain, 7-seater SUV combines luxury, capability and motorsport DNA in one offering. The overwhelming response, with all units sold out in minutes, reflects the strong enthusiasm among customers.”

The Kodiaq RS features a 2.0-litre TSI engine producing 195 kW (265 PS) and 400 Nm of torque, paired with a 7-speed DSG transmission and all-wheel drive. The vehicle accelerates from zero to 100 kmph in 6.3 seconds, with a top speed of 231 kmph.

The vehicle is equipped with progressive steering and the latest-generation Dynamic Chassis Control (DCC) Plus, which allows drivers to adjust damping characteristics. The Driving Mode Select offers multiple settings, including Eco, Comfort, Normal, Sport, Individual, Snow and a dedicated Off-Road mode.

The exterior includes black accents on the grille frame, mirrors, window frames, roof rails, and the D-pillar. The front features a bumper with black elements and a horizontal light strip in the grille. The rear includes a full-width reflector, blacked-out lettering, and stainless-steel exhaust tips. The SUV is fitted with 20-inch Elias alloy wheels and is available in Moon White, Magic Black, Velvet Red and Steel Grey.

Comments (0)

ADD COMMENT

Link Copied!

Honda Cars India (HCIL), a leading passenger vehicle manufacturer, has announced wholesales of 8,788 units in June 2026.

In the domestic market, the company sold 5,243 units and 3,545 units for export, which marks 71.5 percent YoY, when the company sold 4,618 units domestically and exported 506 units.

Kunal Behl, Vice-President, Marketing & Sales, Honda Cars India, said, "The launch of new City and India Premiere of global SUV Honda ZR-V has generated strong momentum for our overall sales including Amaze and Elevate during June, driven by healthy customer demand and a positive market response. With Monsoon conditions expected to improve during July, we hope to sustain this positive momentum in the months ahead.

“The deliveries of ZR-V are also scheduled to begin from July. It will draw discerning new customers and prospects into Honda showrooms, enhancing our premium brand appeal and unlocking new growth opportunities,” he added.

Comments (0)

ADD COMMENT

Link Copied!

French automotive company Renault India has recorded 4,063 domestic wholesale units in June 2026, a 55 percent YoY increase compared to the previous year. This also marks the 10^th consecutive month of double-digit growth for the company.

Interestingly, for H1 CY2026, the company reported sales of 25,844 units, representing 61 percent YoY growth.

During June, Renault India began exports of the Duster, dispatching 750 units to South Africa. The company stated that this performance reflects customer response to its product strategy and demand across its portfolio.

Comments (0)

ADD COMMENT

Link Copied!