KG Mobility sales fall 16.7% in September as EV subsidies run out

  • KG Mobility reported lower September vehicle sales after domestic EV subsidies were depleted.
  • 8,863 vehicles were sold in September, down 16.7% from a year earlier.
  • Exports reached 6,763 units, exceeding 6,000 for the first time in three months.

KG Mobility Corp. reported September sales of 8,863 vehicles, down 16.7% from a year earlier as domestic demand weakened after electric vehicle (EV) subsidies were depleted. Domestic sales fell 48.8% to 2,100 units, while exports rose 3.5% year on year to 6,763 units. Exports also recovered above 6,000 vehicles month over month for the first time in three months, but the increase was not enough to offset the decline in the automaker's home market. Total sales nevertheless increased from the previous month, indicating signs of recovery.

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