Peoria Kia dealers proud of company's jump in profits

Kia has been putting out some affordable quality vehicles in the last couple of years

, so it should be no surprise that the company has posted a 61 percent profit increase for the second quarter this year. Kia also said it will launch some new models to create more demand and hopes to sell over two million vehicles this year.

Kia Peoria customers can attest to the quality of Kia's models. These new models moving quickly off the lot are what boosted the company's profit to $472 million in the second quarter. The Korean auto maker expected its net profit to rise 36 percent from last year/

Models like the redesigned Sorento SUV and Kia's quirky but popular and affordable Soul hybrid have created quite a stir in the industry and have consumers paying attention to this little auto maker. Actually, it's not so little, Kia and its sister company Hyundai Motor Co. are the fifth-largest auto manufacturer on the planet.

Kia had set a goal of 1.94 million vehicle sales in 2010, but reaching the 52 percent mark in just the first six month, it has upped that goal by a few. Peoria used Kia customers are familiar with the affordable pricing of all the Kia models and will be especially pleased with the 2011 model pricing.

Plans are also in the works to beef up the Kia line with new products. The K5 midsize sedan and the Sportage R SUV will be among those seen in foreign markets this year. Kia Peoria buyersmay have to wait a bit to see these new models. There's no date given for when they might hit stateside.

Industry analysts warn that Kia profits may not increase as much in the third quarter due to the possibility of a strike by workers and Korean summer holidays. Union members employed by Kia did vote to strike if wage talks cannot be resolved soon. Right now one point of contention is paid union executive positions which may be cut.

Song Sang-hoon of Kyobo Securities said of Kia, "Still, improved utilization rates and addition of new cars to the major markets will offer a strong catalyst to Kia in the fourth quarter." Peoria used Kia buyers certainly may be impressed enough with the price of the Soul or new 2011 Sorento to add to Kia's sales numbers.

But what it comes down to is consumers buying what they find to be a good value. Kia provides that and is getting better at it every year with design improvements to current models, new models in the works and maintenance of affordable pricing. Buyers respect companies who strive for quality and listen to the needs of their customers and Kia has been doing that as well.

Peoria Kia dealers proud of company's jump in profits

By: Fred Lightner

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