Kia Says $842 Million Tariff Hit May Be Repeated This Quarter

Kia Corp. said the hit from US tariffs totaled 1.2 trillion won ($842 million) in the third quarter and the duties will likely cost it the same amount again in final three months of the year despite Seoul and Washington reaching a trade deal.

Tariffs saw the South Korean automaker’s operating profit slump 49% from a year earlier to 1.5 trillion won, far below the 2.2 trillion won median estimate compiled by Bloomberg. That’s despite the company posting its highest-ever third-quarter revenue. Wholesale deliveries of 785,137 units were also a record for the third quarter, driven by robust global sales ...