Seoul: KG Mobility Corp. reported a 23 percent decline in its August sales compared to the same month last year, attributing the drop to weaker domestic demand. The company sold 6,800 vehicles last month, a significant decrease from the 8,830 units sold in August of the previous year.

According to Yonhap News Agency, KG Mobility's domestic sales saw a substantial fall of 43 percent, with only 2,300 units sold compared to 4,055 units a year earlier. Export figures also showed a decline, albeit less severe, with a 5.1 percent drop to 4,560 units from the previous figure of 4,805.

In response to the downturn, KG Mobility announced plans to intensify promotional efforts for its models in Southeast Asian markets. The company has set a target to sell 1,000 sport utility vehicles (SUVs) in Myanmar within the year, following the launch of its brand in the region.

Furthermore, KG Mobility is planning to export its all-electric Torres EVX and Musso EV pickup as complete knockdown (CKD) kits to Southeast Asia. The company also aims to expand its CKD business in Saudi Arabia and Vietnam, as part of its strategy to boost international sales.

Despite the monthly decline, KG Mobility's cumulative sales from January to August showed a slight increase of 0.2 percent, reaching 70,743 units compared to 70,567 units in the same period last year.