KG Mobility sells 9,929 units in April... Achieves Q1 turnaround to profit

KG Mobility announced on the 2nd that it sold a total of 9,929 units in April, including 5,583 units domestically and 4,346 units for export.

The April performance decreased compared to the previous month due to weakened consumer sentiment caused by high inflation and high interest rates. However, it increased by 22% compared to the same month last year and by 43.4% compared to the cumulative total from January to April last year.

Domestically, the mid-size sports utility vehicle (SUV) Torres led the upward trend, selling 5,583 units, a 15.4% increase compared to the same month last year. Torres sold 3,553 units, surpassing 40,000 cumulative sales since its launch in July last year through this month.

Exports also exceeded 4,000 units last month, with increased sales to Hungary, Belgium, Chile, and other countries. This is a 31.7% increase compared to April last year.

KG Mobility Torres TX

KG Mobility is accelerating its global market expansion to increase both domestic and export volumes. The KD cooperation project with Saudi Arabia's SNAM is scheduled to begin shipments from September this year.

In February, an export contract was signed with UAE's NGT. In March, KG Mobility signed a KD export contract with Vietnam's Kim Long Motors starting with 15,000 units annually in 2024, totaling 210,000 units by 2029.

Meanwhile, KG Mobility announced that it recorded sales of 1,085.019 billion KRW and an operating profit of 9.384 billion KRW in the first quarter of this year. After recording losses until the fourth quarter of last year, it succeeded in turning a profit this quarter based on operating profit.

KG Mobility stated, "Torres led the sales increase, continuing a favorable trend with a 22% increase compared to the same month last year," adding, "We will strengthen our global market expansion to increase both domestic and export volumes and further increase sales volume."