Kia posts record Q1 revenue of KRW 29.5 trillion, profit down 26.7% on tariffs
Kia achieved its highest-ever quarterly revenue in Q1 2026, but operating profit slid sharply due to U.S. tariffs and higher costs.
KRW 29.5 trillion
KRW 2.21 trillion
232,000 units
What Happened
Kia Corporation reported record first-quarter revenue of KRW 29.5 trillion, up 5.3% year on year, driven by strong sales of electrified models and higher average selling prices. However, operating profit fell 26.7% to KRW 2.21 trillion as U.S. tariffs and increased incentives weighed on profitability. Net profit also declined 23.5% to KRW 1.83 trillion.
232,000units
up 33.1% year on year, with hybrid sales up 32.1% and EV sales surging 54.1%
4.1%retail
up 0.5 percentage points year on year, exceeding 4% for the first time
Why this matters
Kia's mixed quarterly results show how tariffs can boost revenue but hurt profits, and highlight the growing importance of electrified vehicles in its sales mix.
Terms in This Story
- xEV
- Any vehicle with an electric motor, including hybrids, plug-in hybrids, and battery-electric vehicles.
- ASP
- Average selling price; the typical price at which vehicles are sold.
- operating profit margin
- Operating profit as a percentage of revenue, measuring profitability from core operations.
Summarised from the linked release; details can be imperfect — always verify against the original source.