KG Mobility has improved its performance for two consecutive years and has entered the stage of normalizing its operations. It is analyzed that the company is achieving success in overseas market development, where it has invested for years, while continuously launching new models that will drive future growth.
According to the automotive industry on the 31st, KG Mobility recorded ▲sales of 109,424 units ▲revenue of 3.78 trillion won ▲operating profit of 12.3 billion won ▲net profit of 46.2 billion won in the previous year.
KG Mobility cited the release of new vehicles like the Actyon, increased export volumes through expanded global market penetration, the currency effect due to the depreciation of the won, and cost reduction efforts as factors improving its performance.
Kwak Jae-sun, chairman of KG Group, became the chairman of SsangYong Motor in September 2022 and changed the name to KG Mobility the following year. KG Mobility explained that the name change reflects its intention to go beyond just selling cars to lead the development of future-oriented technologies like autonomous driving and connectivity.
Since the name change, KG Mobility has continued to grow in the domestic market. Last year, it opened the 'KGM Experience Center Ilsan Branch' (KEC: KGM Experience Center), an innovative space centered around customer experience, and is currently operating a pop-up test drive center in Gangnam.
Communication with customers is also significantly reflected in new vehicle launches. The '2025 Rexton' lineup, unveiled earlier this year, features a configuration of trims adjusted to customer preferences. The pickup truck Musso Sports & Kan and the main sports utility vehicle (SUV) Rexton have been reconfigured into two trims according to customer preferences.
KG Mobility has also worked hard to carve out sales channels in the global market. Chairman Kwak has been noted for personally conducting market research trips and holding briefings to lead the rebuilding of the global sales network.
As a result, the previously Europe-focused overseas export channels have expanded to Asia and Central and South America. KG Mobility recorded its highest export performance since 2014. In September of last year, it held a global dealer conference to share success stories and strengthen the network among dealers, laying the groundwork for mutual growth.
KG Mobility has recently achieved a balanced sales distribution across different regions, creating a stable revenue structure. According to KG Mobility's global market export sales status of the top seven countries, Turkey and Hungary account for 17.8% and 17.4%, respectively, with Spain, Kazakhstan, the United Kingdom, Chile, and Israel following. KG Mobility projects that the export ratio will expand from 57% last year to 68% this year.
KG Mobility has set its sales target for this year at 135,000 units, reflecting a 23.4% increase over the previous year's total (109,424 units). The export target is set to exceed 90,000 units, up 46.7% from last year. The company plans to expand its export ratio from 57% last year to 68% this year.
The Musso EV, Korea's first electric pickup truck launched this year, and the brand's first hybrid model, the Torres Hybrid, are expected to lead to improved sales performance.
The Musso EV boasts a high utility deck and has space exceeding that of medium SUVs. It is also equipped with a durable, low fire risk 80.6 kilowatt-hour (kWh) LFP battery and has achieved a driving range of 400 km on a single charge and a combined energy efficiency of 4.2 kgm/kWh. This vehicle surpassed 3,200 cumulative contracts within two weeks of launch and is on a steady path.
The Torres Hybrid is a model that applies technology developed after signing a 'next-generation hybrid system joint development agreement' with Chinese electric vehicle manufacturer BYD in November 2023, following a 15-month verification period.
This vehicle combines a dedicated 1.5 turbo gasoline hybrid engine and a dual motor with a direct parallel dual tech hybrid system. It achieves driving performance with a maximum output of 177 horsepower and maximum torque of 300 Nm, utilizing a large 130 kilowatt (kW) motor located close to the drive axle combined with e-DHT (efficiency-Dual motor Hybrid Transmission).
A KG Mobility official noted, "By actively developing overseas markets and expanding sales channels, we have achieved two consecutive years of profit," adding that, "This year is also expected to see noticeable growth in both domestic and export markets."