Kia zeroes in on US market as tariffs weigh on its rivals

South Korea's Kia Corp said yesterday that it aims to increase its US sales and market share in the second half, driven by sales of new hybrid and petrol vehicles and as some rivals are expected to raise prices to cope with tariffs.

- HYUNJOO JIN HEEKYONG YANG

Kia, which with affiliate Hyundai Motor ranks as the world’s no. 3 carmaker, said its operating profit in the second quarter fell by a quarter as it took a hit of 786 billion won ($570 million) from US tariffs and warned of a bigger blow in the second half.

Still, it increased April-June US sales by 5% as consumers brought forward some car purchases due to concerns that US tariffs would lead to higher vehicle prices. Kia also credited solid sales of its new Carnival hybrid sport utility vehicles for the rise.