South Korean automaker KG Mobility (KGM) reported a sharp turnaround in the third quarter, posting an operating profit of 3 billion won ($2.2 million) and record revenue of 1.1889 trillion won, driven by strong export growth and rising demand for its electric and hybrid models.
Revenue rose 36.7% from a year earlier, marking the company’s highest-ever quarterly performance. KGM also swung to a net profit of 10.5 billion won, reversing a loss of 46.6 billion won in the same period last year. The company has now maintained profitability for three consecutive quarters.
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Analysts said the improvement reflects KGM’s aggressive push into overseas markets and a steady rollout of new vehicle models. The company’s sales volume in the third quarter reached 29,116 units, its highest in six quarters since early 2024, with exports climbing 45.3% year-on-year to 16,505 units.
KGM’s pickup lineup led the gains. The Musso EV exceeded its annual sales target ahead of schedule, reaching 6,311 cumulative domestic sales as of September. Combined sales of the Musso EV and Musso Sports & Khan totaled 12,679 units in the third quarter, accounting for 64.4% of domestic pickup sales.
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“The company is focusing on improving profitability by increasing export volumes of its flagship models, including the Musso EV and Torres Hybrid,” KGM said in a statement.
The company expects export momentum to strengthen following the introduction of the Musso EV and Torres Hybrid in key overseas markets last month. Domestically, KGM said it plans to enhance customer engagement through initiatives such as the KGM Mobiling subscription service and expanded test drive events.
