Posted by on 25 Mar 2011. Filed under Business, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Kia breaks production record last year

The plant Kia Motors Slovakia produced more than 229,500 cars in 2010 which means a 52% year-on-year increase. The company also recorded growth in engine production.

Last year more than 320,900 engines were assembled on production lines which represented a 31% year-on-year increase. Kia Motors Slovakia generated a net profit of EUR 42.9 million in 2010. In the Slovak Republic, the company invested more than EUR 164 million into the installation of new technologies for new models’ production and extension of the engine production capacity.

“When I look at the year of 2010, I can evaluate it as a very positive one for us. During the first six months we successfully launched the production of two new SUV models and at the end we started to produce a new three-door version of Kia pro_cee’d. We managed to exceed our production plan and we produced more than 229,500 cars,” said Myung-Chul Chung, President and CEO of Kia Motors Slovakia.

The key factor for the growth of the car production was a volume production launch of two new models of sport-utility (SUV) such as Hyundai ix35 and Kia Sportage, which the company started to produce within 2010. In December, Kia Motors Slovakia also started to produce a new version of the three-door Kia pro_cee’d. The plant currently produces five different vehicles and SUV models represented 58% of total production in 2010. More than 28% of cars produced in 2010 belonged to the product line called EcoDynamics which is assigned for the customers favoring “green technology.”

The largest export markets in 2010 were Russia (26%), Germany (10%) and the UK (8%) followed by Spain (6%) and Italy (5%). About 1% of produced cars remain for the Slovak market. The revenues from exports, which is EUR 2.871 billion, represented 99% of total revenues. Thanks to that Kia Motors Slovakia became the third largest exporter in Slovakia in 2010.

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