Kia’s Australian profits slide as Chinese brands grab market share

Profits at Korean car maker Kia’s Australian business fell by more than a third last year amid growing competition from Chinese-made vehicles and after a marketing campaign for its new Tasman ute failed to draw in buyers despite the backing of several high-profile sports stars.

Kia took a big step out of its traditional market of SUVs and sedans when it introduced the Tasman in mid-2025 in a bid to grab a slice of the ute market, which commands about 20 per cent of total new vehicle sales.

Source: https://www.afr.com/companies/transport/kia-s-australian-profits-slide-as-chinese-brands-grab-market-share-20260609-p605b8