Kia Motors Corp. was hurt by the production disruptions from its workers’ lengthy strike in the third quarter, but managed to fare better than its parent company Hyundai Motor Co.

The automaker said in a regulatory filing on Thursday that its operating profit fell 22.5 percent from a year earlier to 524.8 billion won ($460.9 million) in the July - September period. The figure came slightly below the market consensus of 556.3 billion won. Net profit rose 20.8 percent to 664.3 billion won. Sales slid 3.1 percent to 12.7 trillion won on year.

For the first nine months this year, the carmaker posted better earnings compared to a year-ago period. Its operating profit rose 4.9 percent to 1.9 trillion won, while net profit gained 10.7 percent to 2.4 trillion won. Sales also grew 8.4 percent on year to 39.8 trillion won. The rate of operating profit, however, edged down by 0.2 percentage point to 4.8 percent.

Kia Motors said labor strike-induced production disruption and stronger Korean currency largely put a dent in its profitability despite release of new cars including the K7 and expanded sales of recreational vehicles. It said that it will expand its market share at home in the fourth quarter through bolstered sales K7 and plug-in hybrid vehicles (PHEV) including the Mohave and the Niro.

The automaker plans to ramp up its overseas sales by pushing ahead with region-specific marketing strategy.

For the Chinese auto market, it plans to bolster its sport utility vehicle (SUV) segment by rolling out new cars - the KX3, the KX5 and SportageR. It will also launch its new sedan K2 in the country.

In the United States, the automaker plans to launch the New K7 at year-end and the SUV hybrid Niro early next year. In Europe, it plans to push ahead with “green” brand image by introducing its PHEVs such as the Niro and K5.

Kia expects demand from Russia and other emerging markets to recover in the latter half next year, pinning hopes on subcompacts such as Picanto (known as Morning at home) and Rio (known as Pride at home) to be introduced in Russia early next year.

Shares of Kia Motors closed at 41,650 won, up 0.48 percent, or 200 won, Thursday from the previous session.

By Lee Seung-hoon

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