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Kia’s November gross sales fall 13% on chip scarcity

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South Korea’s second-largest automaker Kia on Wednesday stated its gross sales fell 13 p.c final month from a 12 months earlier as a worldwide chip scarcity continued to have an effect on its manufacturing.

Kia offered a complete of two,22,232 autos in November, down from 2,56,215 items a 12 months in the past, the corporate stated in an announcement.

Home gross sales declined 8.9 per cent on-year to 46,042 items final month from 50,523, whereas exports had been down 14 per cent to 176,190 from 205,692 throughout the cited interval, studies Yonhap information company.

Kia stated the continued chip scarcity and resurgence of Covid-19 instances are guilty for the lacklustre gross sales final month, saying it can alter the manufacturing schedules to minimise the half scarcity’s affect on its manufacturing facility operations.

From January to November, gross sales rose 7.6 per cent to 2.57 million autos from 2.39 million items in the identical interval of final 12 months.

Not too long ago, Hyundai Motor and affiliate Kia unveiled their electrical idea SUVs on the Los Angeles Auto Present as they strengthen their all-electric portfolios according to rival carmakers’ electrification push.

Hyundai and Kia debuted the large-sized “Seven” and flagship “EV9” idea fashions constructed on Hyundai Motor Group’s devoted EV platform, referred to as E-GMP, on the US motor present throughout a two-day media preview.

The carmakers are planning to step by step section out combustion-engine automobiles in world markets as governments are adopting extra aggressive insurance policies to struggle local weather change.

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