KGM sells 6,860 units in August as exports offset domestic slump

KGM sold a total of 6,860 units at home and abroad in August. Domestic sales fell more than 40 percent from a year earlier, pulling down overall results, though cumulative export volume for the year continued to outpace last year's pace. The company plans to offset the domestic weakness by broadening its overseas sales network, starting with Myanmar and extending to Saudi Arabia and Vietnam.

KGM disclosed Tuesday that it sold 2,300 units domestically and 4,560 units overseas in August, for a combined total of 6,860 units — a 22.6 percent decline from the same month last year.

Weak domestic demand was the main drag. Domestic sales of 2,300 units represented a 43.3 percent drop from a year earlier, reflecting subdued consumer sentiment. Cumulative domestic sales through August, however, remained roughly on par with the same period last year.

Exports accounted for roughly two-thirds of total sales and helped cushion the domestic shortfall. The 4,560 units shipped in August were driven largely by demand in European markets, including Turkey and Hungary. Year-to-date export volume also exceeded the same period a year ago.

To sustain export growth, KGM is expanding its sales network into emerging markets. In August the company officially launched the KGM brand in Myanmar, introducing electric models including the Torres EVX electric SUV and the Musso EV electric pickup.

Following Myanmar, KGM plans to roll out knock-down assembly operations sequentially in Saudi Arabia and Vietnam. The strategy goes beyond finished-vehicle exports, aiming to build local production and sales bases to grow overseas volume.

On the domestic front, KGM is pushing electric models to stimulate demand. The company participated in EV Trend Korea 2026 at COEX in Seoul last month, displaying the Musso EV, Torres EVX and Actyon Hybrid.

On the production side, KGM said it will focus on improving stability and efficiency following the early conclusion of this year's wage and collective bargaining negotiations. The company aims to fulfill export orders without production disruptions from labor disputes while also supporting a domestic sales recovery.

KGM is also deepening its cooperation with China's Chery Automobile to strengthen its global competitiveness. In August it secured a strategic investment of $75 million from Chery. The jointly developed mid-size SUV SE10 is targeting a January launch next year and will be offered in plug-in hybrid and gasoline variants.

"Having wrapped up this year's wage and collective bargaining negotiations early, we plan to focus on stable production and efficiency gains while strengthening our response to the growing overseas market and the domestic market to increase sales," a KGM official said.