H1 sales reach 56,759 units, up on year

Exports hit record high; fourth consecutive year of profit

KGM's Musso. [KGM]
KGM's Musso. [KGM]

KGM posted an operating profit of 8.8 billion won ($6.01 million) in the second quarter, down 50.8 percent from a year earlier, the company disclosed Tuesday. Sales rose 14.1 percent on year to 1.18 trillion won.

For the first half of the year, the company recorded sales of 2.32 trillion won and an operating profit of 30.5 billion won, up 19.3 percent and 7 percent, respectively, from the same period last year. Net profit for the period came to 55.1 billion won.

First-half sales totaled 56,759 units, a 6.5 percent increase from a year earlier, with domestic sales of 21,806 units and exports of 34,953 units. The export figure is the highest first-half total in 12 years, since the first half of 2014 when the company shipped 41,000 units. In June, the company also set an all-time monthly sales record.

KGM said the results reflected higher export volumes driven by new model launches in global markets — including the Musso — and expansion into new markets, as well as efforts to improve profitability and productivity, enabling the company to post a profit for the fourth consecutive year since 2023.

The company said it is strengthening its response to both global and domestic markets to grow sales volumes and expand its profit base.

In the domestic market, KGM launched the new Torres in May and introduced the "KGM Total Care Package," a program designed to reduce the burden of ownership while improving customer satisfaction from purchase through maintenance. The company also opened "3S composite dealerships" offering vehicle sales and servicing under one roof.

On the export front, the company has been accelerating its push into global markets through a series of new model events — starting with a dealer conference in Germany, where its European sales subsidiary is based, in February, followed by test-drive events for the Actyon Hybrid and Musso EV in Germany in April, a Musso launch and test-drive event in Turkey, and Musso launch and test-drive events in Chile and Germany in June.

"Driven by growth in both domestic and export sales volumes, we have posted a profit for the fourth consecutive year since 2023, laying the groundwork for sustainable growth," a KGM official said. "We will continue to build on the upward momentum in exports while focusing on the domestic market — providing customers with convenient and differentiated services, expanding customer touchpoints, and growing sales volumes to further improve profitability."


eyre@heraldcorp.com