(Bloomberg) -- Kia Motors Corp., an affiliate of South Korea's biggest automaker, reported an unexpected third straight loss because of a cut in Sorento sport-utility vehicle production and a stronger won.
The net loss was 30.6 billion won ($33 million) in the three months ended March 31, compared with a 38.4 billion won profit a year earlier, the Seoul-based automaker said in a statement today. That was less than the median estimate of a 13 billion won profit in a Bloomberg News survey of seven analysts. Sales dropped 12 percent to 3.85 trillion won.
Read more at Bloomberg Emerging Markets News
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