Renault Korea appears to have achieved better results than KG Mobility in the new car competition, with the availability of hybrid powertrains impacting sales figures for the Koleos and Action models. In September, sales of the Koleos surpassed those of the KGM Action.
According to Renault Korea, despite a decline in overall sales due to weak exports, the company experienced a 51.1% decrease compared to the same month last year. Meanwhile, domestic sales surged by 271.1%, achieving a record high for the year. By the end of last month, the total number of contracts for the Koleos reached over 20,500, indicating that deliveries will continue.
KGM's performance is considered disappointing. Analysts believe that the difference in results between the two companies stems from the availability of hybrid powertrains, which have become the most popular option in the domestic market. Hybrid vehicles offer higher fuel efficiency compared to internal combustion engines, making them a more efficient choice for consumers.
According to KGM, the production volume fell short due to mixed production and the Chuseok holiday. The production line currently produces all models, including Action, Torres, Korando, and Tivoli. Additionally, because there is still considerable backlog, the company expects to see increased delivery volumes starting in October. KGM plans to launch its first hybrid vehicle in 2025, produced in collaboration with China's BYD.
KGM noted that production levels were insufficient due to mixed production and the Chuseok holiday. The production line is currently turning out all models, including Action, Torres, Korando, and Tivoli. Furthermore, the company anticipates increased delivery volumes starting in October due to a significant backlog. KGM expects to launch its first hybrid vehicle in 2025, produced in collaboration with China's BYD.