South Korean automaker KG Mobility Corporation, previously known as SsangYong Motor, has announced it has established a new sales subsidiary in Germany, as it looks to strengthen its presence in Europe’s largest auto market.
The new subsidiary, the automaker’s second directly-owned overseas sales subsidiary after its Australian unit was established in 2019, is headquartered in Frankfurt – Germany’s financial hub.
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KG Mobility held a conference in Frankfurt to mark the occasion, which was attended by the group’s chairman Kwak Jae-sun and representatives of its 170 local dealers. The company confirmed it aims to lift sales in this market with a “tailored local marketing” approach, strong customer service and close collaboration with dealers.
KG Mobility is increasingly looking to drive up overseas sales as it faces growing competition in its domestic market. The automaker reported a 14% decline in global sales to 64,878 in the first seven months of 2024, with domestic sales plunging by over 34% at 28,215 vehicles while overseas sales increased by 12% to 36,663 units.
The company recently launched a new minivan version of the Torres EVX SUV – powered by lithium iron phosphate (LFP) batteries.
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By GlobalData
