The backdrop for the brand change is the fact that the South Korean conglomerate KG Group has purchased SsangYong’s production lines in 2022, combining the company’s manufacturing experience with the latest mobility solutions, powertrains and driver assistance technologies. The KG Group was founded in 1985 as a family-owned business (chaebol) and is recognized today as one of South Korea’s largest business organizations with activities ranging from chemicals to steel manufacturing as well as media production. In 2022 the KG Group acquired a 61 percent stake in SsangYong Motor, thus entering the automotive sector. As of March 2023, SsangYong Motor continues its operations as KG Mobility. Following the acquisition, KGM will replace the previous brand name in Central and Eastern Europe from March 2025. The new brand also means a new appearance, but KGM cars will retain the distinctive logo featuring two dragons, thereby combining the heritage of the past with forward-thinking solutions.

Solid investor base

The solid financial background of the KG Group will enable the manufacturer – now operating as KGM – to consolidate and grow its market position, better suited to today’s customer needs, due to its innovative approach and forawrd-looking technology.

The AutoWallis Group represents the brand in 9 markets in the Central and Eastern European region – Hungary, Austria, Slovakia, Czech Republic, Slovenia, Serbia, Bosnia and Herzegovina, Romania, Kosovo. The region, managed from the Hungarian headquarters, achieved an outstanding market share last year, especially compared to Western European countries. This performance was recognized by KG Mobility’s management with the award for the highest market share in 2024 at the landmark Global Distributor Conference in Seoul. The rebranding was announced in Hungary on 14 March, with the new brand to be launched in other countries in April.

A highly popular brand in the region

The KGM brand is an important part of the AutoWallis Group’s portfolio and has been in high demand in the Central and Eastern European region in recent years.In 2023, for example, the AutoWallis Group sold nearly 11,000 vehicles – then under the SsangYong brand – in Hungary, Romania, the Czech Republic, Slovakia and Austria, representing a 50 percent increase compared to the previous year. The brand was the fastest-growing brand in the Austrian wholesale market last year, and in the Czech Republic, the brand’s second largest European market, it accounted for almost a third of all AutoWallis Group sales. The Romanian market also performed strongly last year, with SsangYong increasing sales by more than 43 percent. In recognition of the outstanding results achieved in these markets, AutoWallis 2024 was awarded the rights to import Ssangyong in four additional regional countries (Kosovo, Serbia, Montenegro and Bosnia) in March. In these markets, sales of the brand’s models under the KGM brand will start this spring.

About AutoWallis Group

AutoWallis Plc., a company listed in the Premium category of the Budapest Stock Exchange, is a major vehicle trading company and mobility service provider in the Central and Eastern European region The AutoWallis Group is present in 16 countries of the Central and Eastern European region (Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Kosovo, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia ), where it is engaged in the retail and wholesale of vehicles, parts, and accessories, in repair and maintenance services, as well as in short- and long-term vehicle rentals. The Group’s Distribution Business Unit represents the Alpine, BYD, Dacia, Isuzu, Farizon, Jaguar, Land Rover, KGM, MG, Saab parts, Renault, and Opel, The brands represented by its Retail Business Unit include BMW passenger cars and motorcycles, BYD, Dacia, Ford, Isuzu, Jaguar, KGM, KIA, Land Rover, Maserati, Mercedes, Mercedes-Benz Trucks, MINI, Nissan, Opel, Peugeot, Renault, Suzuki, Toyota, JóAutók.hu and AUTO-LICIT.HU, whilst the Mobility Services Business Unit manages wigo carsharing, wigo fleet and Sixt rent-a-car. The AutoWallis Group is committed to providing its customers with the freedom and joy of driving as a long-term partner with the automotive industry’s leading brands and solutions.

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KGM

KGM, formerly known as SsangYong, has become known in Europe as a South Korean SUV specialist with 70-years’ worth of tradition in producing rugged and stylish vehicles. KGM is owned by the KG Group, a South Korean group of companies focused on the development of mobility technologies, ensuring the brand’s continued evolution while respecting its heritage.

www.kgmhungary.hu

Further information:

David Andersen, AutoWallis Senior PR Manager: +36 30 136 0717 E-mail: david.andersen@autowallis.hu