Kia Slovak Unit Exceeds 2011 Car Output on Recovering Demand
The Slovak unit of Kia Motors Corp. (000270) has assembled more cars this year to date than for the whole of 2011, driven by rising demand for new models.
The Seoul-based carmaker produced more than 253,000 cars in its Slovak factory near Zilina, compared with 252,000 vehicles last year, the company said in an e-mailed statement. In October alone, output rose 35 percent to more than 30,000 vehicles.
Kia and its affiliate Hyundai Motors Co. are weathering the economic slowdown in western Europe, where sales of all new cars slumped 11 percent in September from the previous year. Kia’s total European sales rose 4.9 percent from a year earlier in that month.
The carmaker, which makes Venga subcompact models in Zilina as well as Sportage sport-utility vehicles, also said it’s so far meeting its full-year target of assembling 285,000 vehicles at the plant this year.
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