Kia's EV3 compact electric SUV / Courtesy of Kia

Kia announced Friday that it achieved record quarterly sales and an operating profit in the second quarter, driven by an increased share of SUVs and electric vehicles (EVs).

According to the carmaker's regulatory filing, the firm's operating profit reached 3.64 trillion won ($2.62 billion) between April and June, up 7.1 percent from a year earlier. Its sales also jumped up 5 percent to 27.56 trillion won during the same period.

The improved product mix enabled the carmaker to set a new record in its quarterly earnings.

"We achieved the earnings thanks to an improved product mix, industry-leading low incentives and stabilized raw material prices," a Kia official said.

Of particular note was its highest-ever operating profit-to-sales ratio of 13.2 percent in the second quarter.

The firm's sales growth was also driven by robust sales in major overseas markets, such as North America, where solid sales of its SUVs and hybrid cars there served as its key sales growth driver.

The carmaker also expected the geopolitical risks to continue throughout 2024 during this period of global EV slowdown. Global economic uncertainties, stemming from the prolonged high interest rates and lingering inflationary pressure, also come as major risk factors for the carmaker, according to Kia.

"We are closely monitoring the changing automobile market characterized by intensifying competition and the adjustment of the EV adoption stage," the official said.

"Kia will maintain optimal inventory levels through flexible production operations in line with market demands, while we will also continue placing management focus on enhancing profitability and customer value."

The carmaker reiterated its unwavering willingness to drive the popularization of EVs with the latest launch of its EV3 compact SUV. It will also keep expanding its sales with popular hybrid models and launching more diverse vehicle lineups.

"In the United States, one of the key strategic markets abroad, Kia will enhance its brand value and improve sales volume through new vehicles, such as the Sorento hybrid SUV and the K4 compact sedan."

The company also shared its plan to tap deeper into the European market with the successful launch of the EV3 there and a string of other subcompact vehicles.