KG Mobility (003620) (KGM) announced on the 1st that it sold a total of 8971 cars in domestic and international markets in November, up 1.4% from the same month last year.
Domestic sales fell 5.7% to 3121 units, while overseas sales increased 5.6% to 5850 units. It is analyzed that this is because sales of electric vehicles have declined due to exhaustion of domestic subsidies.
Meanwhile, Korando (1163 cars), Torres EVX (853 cars), Torres (801 cars), and Tivoli (680 cars) were strong in overseas markets. The explanation is that this is the result of targeting the local market by actively introducing new products such as Musso EVs in the German market as well as Turkey and Israel this year.
A KGM official said, “We will continue to increase sales volume by actively responding to the domestic market by strengthening customer benefits through the 'Slim Pay Plan Installment Program', which guarantees the highest level of residual value for used cars in Korea.”
