KG Mobility (KGM) has reported a decline in sales due to weak domestic demand.
KGM announced on September 1 that its total sales for August reached 6,860 units, a 22.6% decrease from 8,860 units in the same month last year.
The drop was primarily driven by poor domestic sales, which fell from 4,055 units to 2,300 units, a decline of 43.3%. Exports also decreased, dropping from 4,805 units to 4,560 units, a 5.1% reduction.
Additionally, a base effect contributed to the decline. Sales of the Actyon Hybrid (HEV) and the Musso Electric Vehicle (EV), which had performed well last year, have slowed significantly. These two models saw respective sales drops of 57.3% and 87.5% compared to the same month last year.
To boost sales, KGM is enhancing its strategies in both global and domestic markets. Last month, the company introduced its brand in Myanmar to expand export volumes and unveiled its electric vehicle lineup. KGM is also accelerating its market penetration by expanding semi-knocked down (KD) operations in Saudi Arabia and Vietnam.
Furthermore, KGM plans to focus on increasing sales of EVs and HEVs in the domestic market.
KGM announced on September 1 that its total sales for August reached 6,860 units, a 22.6% decrease from 8,860 units in the same month last year.
The drop was primarily driven by poor domestic sales, which fell from 4,055 units to 2,300 units, a decline of 43.3%. Exports also decreased, dropping from 4,805 units to 4,560 units, a 5.1% reduction.
Additionally, a base effect contributed to the decline. Sales of the Actyon Hybrid (HEV) and the Musso Electric Vehicle (EV), which had performed well last year, have slowed significantly. These two models saw respective sales drops of 57.3% and 87.5% compared to the same month last year.
To boost sales, KGM is enhancing its strategies in both global and domestic markets. Last month, the company introduced its brand in Myanmar to expand export volumes and unveiled its electric vehicle lineup. KGM is also accelerating its market penetration by expanding semi-knocked down (KD) operations in Saudi Arabia and Vietnam.
Furthermore, KGM plans to focus on increasing sales of EVs and HEVs in the domestic market.
* This article has been translated by AI.
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