KG Mobility’s Aug. sales down 25 pct on weak exports

KG Mobility Corp., formerly known as SsangYong Motor Co., said Monday its August sales dropped 25 percent from a year earlier due to fewer working days over the summer vacation period and weak overseas demand. KG Mobility sold 8,128 vehicles last month, compared with 10,823 units sold a year earlier, the company said in a statement. Domestic sales inched up 1 percent on-year to 3,943 units, thanks to the launch of the company's new Actyon model, while exports plunged 39.5 percent to 4,185 units, the company said. KG Mobility said its European sales subsidiary will officially begin operations this month and plans to launch new models in the region sequentially. The company noted it has seen a significant increase in sales, particularly in the Turkish market, after the launch of the Torres EVX in March. As of the end of June, KG Mobility recorded a 11.6 percent market share in the country's electric vehicle segment, ranking third in overall sales there. According to a company official, KG Mobility plans t o increase production capacity for the Actyon and employ aggressive marketing strategies to further boost sales volume. Source: Yonhap News Agency