KGM Achieves Third Consecutive Quarterly Profit and Record Sales, Driven by Musso EV

Export Growth Boosted by Favorable Exchange Rates

KG Mobility (KGM) announced on October 29 that it achieved an operating profit of 3 billion won in the third quarter, marking a profit for the third consecutive quarter. During the same period, revenue reached 1.1889 trillion won, setting a new record for the highest quarterly sales in the company's history.

Musso EV. KGM

The increase in export volume, driven by the expanded overseas launch of models such as the Musso EV and Torres Hybrid, as well as improved profitability and favorable exchange rates, contributed to these results.

Third-quarter sales volume rose by 20.9% year-on-year to 29,116 units, recording the highest quarterly sales in six quarters since the first quarter of last year (29,326 units), largely due to a significant increase in exports. Cumulative sales reached 82,388 units, reversing to a year-on-year increase of 2.2%.

Exports grew by 45.3% year-on-year and showed a 17.1% increase compared to last year's cumulative record, which was the highest in a decade. Cumulative exports for the third quarter reached the highest level in 11 years since 2014 (56,733 units).

By model, the Musso EV recorded cumulative domestic sales of 6,311 units as of September, surpassing its annual target of 6,000 units ahead of schedule. Including the Musso Sports and Khan, cumulative pickup truck sales through September totaled 12,679 units, accounting for 64.4% of the domestic pickup market (19,683 units) and driving the growth of the pickup segment.

KGM expects sales volume to increase further as the country-specific launches of the Musso EV and Torres Hybrid are now fully underway. Last month, KGM launched the Musso EV and Torres Hybrid in Germany, inviting representatives from 38 dealerships and media outlets across Europe, the Middle East, and Central and South America.

In the domestic market, KGM is expanding customer-focused sales policies, including the launch of its subscription service KGM Mobiling, various test drive events, and transitioning the Experience Center Busan to a dealership operation system to enhance customer experience.

A KGM official stated, "We will not only increase export volume but also strengthen our response in the domestic market by expanding customer-focused sales policies, thereby boosting sales and improving profitability."