SsangYong Name Change: KGM Motors UK Adopted for Overseas Market
SsangYong Name Change: KGM Motors UK Adopted for Overseas Market
Will SsangYong’s name change affect its reputation and future success in Australia?
SsangYong, the well-known SUV and pick-up truck brand, has announced a name change in another market, but it seems that the brand will remain unchanged in Australia. The company will now be referred to as KGM Motors UK, or simply KGM, with a new tagline of ‘Go Different. KGM’. Although this change has been implemented in other countries, SsangYong Australia has stated that there are no plans to rebrand at this time. Let’s delve further into the details of this development.
KGM Motors UK, formerly known as SsangYong, has made the decision to rebrand in certain markets. However, SsangYong Australia has confirmed that it will remain as SsangYong Australia for the foreseeable future. The well-known wing logo will still be retained by KGM Motors UK, as it pays homage to the company’s heritage since 1954. The logo will undergo a color change from white and blue to white and black, symbolizing the transformation into a brand for the future.
SsangYong’s managing director, Kevin Griffin, expressed enthusiasm for the change and the brand’s commitment to growing as a respected SUV and pick-up truck brand. Meanwhile, in Korea, SsangYong announced its rebrand as KG Mobility, aiming to fully utilize the strength of the SsangYong Motor name. The decision to rebrand was made to overcome the painful image associated with the SsangYong name while maintaining the company’s rich history in car-making.
The name change was approved in March after SsangYong had been under court receivership since April 2021. SsangYong’s former parent company, Mahindra & Mahindra, had been searching for a new investor without success. The company’s turbulent ownership history includes acquisitions by Daewoo in 1997, SAIC Motor in 2004, and Mahindra & Mahindra in 2011. However, all these ventures eventually ended disastrously, leaving SsangYong in receivership.
Fortunately, in 2022, the KG Group stepped in to save SsangYong from liquidation. This move proved beneficial, as SsangYong reported its first quarterly operating profit since 2016 in January 2023. The company also significantly reduced its operating losses by 54.9 percent. Global sales showed a 35 percent increase, with Korean sales seeing a 50 percent boost. This growth can be attributed to the anticipation surrounding the release of the new Torres SUV, which is expected to arrive in Australia next year.
Notably, SsangYong is also preparing to introduce an all-electric version of the Torres, known as the Torres EVX. Although the local division of the brand has yet to confirm this electric SUV, it is on their radar. The KG Mobility Torres EVX boasts two trim levels and is powered by a single electric motor that generates 150kW of power. It is equipped with a 73.4kWh LFP battery, providing a claimed WLTP range of 500km. On the other hand, the combustion-powered Torres features a 1.5-litre turbocharged four-cylinder engine producing 125kW and 280Nm, paired with a six-speed automatic transmission.
- The SsangYong name has been dropped in some markets, but not in Australia.
- KGM Motors UK will retain the wing logo but change its colors to white and black.
- SsangYong Australia has no immediate plans to change its name.
- The KG Group saved SsangYong from liquidation in 2022.
- SsangYong reported its first quarterly operating profit since 2016 in January 2023.
Despite KGM Motors UK’s decision to rebrand, the SsangYong name will continue to be recognized in Australia. The brand’s loyal following and its successful quarterly operating profit indicate a promising future. With the forthcoming release of the Torres SUV and the potential arrival of the Torres EVX, SsangYong remains a brand to watch in the Australian automotive market.
