Kia’s sales fell 5.7 % in January 2022 amid chip shortage

Kia’s sales fell 5.7 % in January compared to a year-earlier period. This is due to the continuation of the global chip shortage that affects production. Kia is South Korea’s second-largest automaker by sales.

Kia claimed it sold 2,12,819 vehicles in January 2022. A year ago it was 2,25,733 units, the company said in a statement. The sales declined this month on-year.

South Koria’s sales is declined 11 % on-year to 37,038 units last month from 41,481. Also, exports were down 4.6 % to 1,75,781 from 1,84,252 during the same period, it said.

The continuation of chip shortages and the Covid-19 pandemic had an impact on its vehicle sales last month. Kia said the company will adjust the production schedules to minimize the impact of part shortages on its production, reported by an agency.

“Kia’s vehicle production began to improve in September, and the company will adopt a three-shift system in its Indian plant and launch new models in the first quarter to boost sales,” the statement said, as per sources.

In 2021, sales were up by 6.5 % to 2.78 million autos from 2.61 million units in 2020.

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