Deutsche Motors Reports Q1 Operating Profit of 7.9 Billion KRW... "Up 52.9% Year-on-Year"

Deutsche Motors announced on May 16 that its sales for the first quarter reached 578.21135 billion KRW, marking a 21.5% increase compared to the same period last year. Operating profit was 7.93981 billion KRW, up 52.9% year-on-year. Although the company recorded a net loss of 1.72189 billion KRW for the period, it explained that this is a solid performance considering the typically sluggish industry conditions in the first quarter and the initial investment costs for new brands.

Deutsche Motors succeeded in surpassing 2 trillion KRW in annual sales for two consecutive years up to last year, and expectations for continued performance growth remain high this year as well. A representative from Deutsche Motors stated, "In the second half of last year, we aggressively pursued a multi-brand strategy and incurred initial investment costs as we newly secured dealerships for renowned brands such as Lamborghini, Aston Martin, and BYD." The representative added, "Nevertheless, robust sales of our core brand BMW and the rapid impact of new brands have driven our performance growth."

Deutsche Motors plans to focus on expanding sales this year by leveraging its diverse lineup of imported car brands. In particular, the BYD small electric SUV ATTO 3, which is competitive in both price and quality, surpassed 1,000 pre-orders within a week of its launch. With 543 units sold in its first month of official delivery in April, the model quickly secured the top spot in the imported electric vehicle market, signaling a strong entry into the domestic market and serving as a positive factor for the company.

Meanwhile, Deutsche Motors intends to continue its shareholder return policy steadily this year, even amid increasing internal and external market uncertainties.