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Kia’s fourth-quarter profit takes 54% dive on currency headwinds


South Korean automaker Kia saw its fourth quarter net profit tumble 54 percent because the company was dearly hit by the Russian rouble plunge – with the market being one of the most important for the carmaker. In Russia, where political and economical turmoil led to a huge depreciation of the local currency, Kia ranks second after domestic brand Lada. Because ...
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More russia articles

Russia car deliveries expected to plummet 24% in 2015
While the overall European market is fighting to support a feeble auto industry recovery, the situation in Russia – a market not long ago forecasted to overthrow Germany – is ...
Russia: amid currency slump, Lada increases prices by 9%
AvtoVAZ, the Renault-Nissan controlled parent company of the country’s best selling brand – Lada – has announced that all cars of the automaker will have the prices increased by 9% ...
Russia tests automakers’ limits
In an incredible recessionary context that has besieged Russia this year, automakers see millions of dollars invested in the country threatened and fear the long-term impact could affect their global ...
Russia: all automakers loose, none is leaving
The country’s shrinking economy, deep currency troubles and political tensions surrounding the situation in Ukraine have led to a deep auto sales slump. And global automakers are the ones taking the ...
Russia: AvtoVAZ loses No.1 spot on supplier issues
Russia’s AvtoVAZ, traditionally the country’s largest carmaker and holder of the top sales position for individual models as well, took a hit last month after its Lada brand’s Granta model ...
Russia: Nissan endures sales fallout by stopping some models, increasing prices on others
Japan's Nissan and its French sibling Renault, according to the alliance’ chief executive officer Carlos Ghosn, is currently axing the orders on some of its models sold in the country, ...
Renault-Nissan and AvtoVAZ merge into Russia’s biggest auto parts buyer
AvtoVAZ and the Renault-Nissan alliance will come together in terms of purchasing activities in Russia. The merged unit will now represent the biggest components buyers in the country’s car industry. For ...
Russia: Asian carmakers business threatened by falling currency
The country’s auto market was just two years ago poised to overtake Germany in size for the top position in Europe, but today the local currency’s collapse, economic uncertainties and ...
Russia: Nissan doubles local production in bid to counter falling profits
The Japanese automaker, Nissan Motor, has chosen to increase its Russian production in a bid to counter the disastrous effects of the collapsing local currency that have rendered imports unattractive. Following ...

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