KG Mobility's August sales fall 23 pct on weaker demand
SEOUL, Sept. 1 (Yonhap) -- KG Mobility Corp. said Tuesday its sales fell 23 perc...
KG Mobility reported a sharp decline in August sales, with figures dropped 23 percent compared to the same period last year. The company sold 6,800 vehicles in August, falling from the 8,830 units sold in August 2022. Domestic sales were particularly affected, plummeting 43 percent to 2,300 units from 4,055 units a year prior. Sales to international markets also saw a modest decrease of 5.1 percent, with exports hitting 4,560 units from 4,805 last August.
In response to the sales slump, KG Mobility has announced plans to bolster its promotional efforts in Southeast Asian markets. The company aims to sell 1,000 SUVs in Myanmar by the end of the year, following the market launch of its models there. Additionally, KG Mobility intends to export the all-electric Torres EVX and Musso EV pickup as complete knockdown kits to Southeast Asian countries. The company will also expand its CKD business in Saudi Arabia and Vietnam.
Cumulative sales from January to August showed a slight uptick of 0.2 percent, reaching 70,743 units compared to 70,567 units in the corresponding period last year.
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