Kia Motors' Profit Jumps 40% on Minicar Sales

There is a report on Bloomberg talking about how the Kia Picanto (Morning in South Korea) has increased the profit of Kia Motors by 40%. Here's an excerpt:

Record gasoline prices helped Kia more than triple domestic sales of Morning minicars in the period and boost total vehicle sales in the slumping U.S. market by 11 percent. The won has also plunged 9 percent against the dollar in the past year, raising the repatriated value of Kia's overseas sales.

I guess even with a global slump in the economy along with the rising costs of fuel and oil-based products, the initial investment of the Kia Picanto (Morning) years ago was very much a wise one.

You can check out the full story here.