KGM sells 8,551 units in July, down 11.1% on weak domestic demand

KG Mobility (KGM) sold 8,551 vehicles in global markets in July, down 11.1 percent from a year earlier, the company said Monday.

The company attributed the overall decline to a contraction in the domestic market, even as exports grew. Domestic sales fell 41.4 percent year-on-year to 2,610 units, while exports rose 15 percent to 5,164 units.

By model, the Musso EV led domestic sales with 615 units, followed by the Musso at 612 units and the Tivoli at 480 units.

Overseas, KGM said sales increased in markets including Turkey and Hungary, with cumulative figures also trending upward. The Torres EVX led overseas sales with 1,905 units, followed by the Musso at 1,168 units — both surpassing the 1,000-unit mark abroad.

"Sales volume declined due to a contraction in the domestic market, but the upward trend in exports continues," a KGM official said. "Having wrapped up this year's wage and collective bargaining negotiations early, we will work to stabilize production and improve efficiency, while strengthening our response to growing global demand and the domestic market to drive sales growth."