Kgm Rexton News

KGM, formerly known as SsangYong, has fully detailed its next-gen ‘Q300’ Musso ute in its Korean home market, ahead of its expected mid-2026 Australian launch.

After years of ownership struggles and increased competition from Chinese rivals, Korea’s third-biggest automaker, KGM (formerly SsangYong) has had its strongest sales result in 11 years, posting an operating profit up 336 per cent year-on-year, with exports increasing by 12.7 per cent.In total, the brand sold 110,535 units globally in 2025.It is a radical turn-around for a brand that only a few years ago was rapidly running out of options after an elongated sale process from previous owner, Mahindra Group.At the time, the debt-laden automaker was struggling to find new owners, and was facing bankruptcy and re-structure.The once-embattled Korean brand’s new owner, KG Group, has turned an ailing ship around, injecting new life into its range of popular and historically value-positioned utes, 4x4s, and SUVs.Despite this saga, which dragged on for years, the brand known as SsangYong at the time was comparatively thriving in Australia as a niche but solid value player. Its diesel-powered Musso ute and Rexton 4x4 continued to sell in decent numbers, with its range of SUVs faring less well since the arrival of even more aggressively priced options from China.First off the rank for KGM’s re-boot in Australia was the Torres mid-size SUV, which replaced the Korando in combustion, hybrid, and EV forms, followed by the resurrected Actyon nameplate as an upper-mid-size SUV in combustion and now hybrid guise.It also recently added Australia’s first monocoque electric ute, the Musso EV, and the brand is now on the cusp of launching its next-generation replacement for the larger diesel Musso ute, codenamed Q300, as part of an expanded Musso sub-brand that's expected to spawn a larger pick-up truck.The next-generation diesel Musso will launch in Korea imminently, with an Australian launch no doubt not far behind.While KGM is now facing particularly tough competition in Australia with the rise of Chinese hybrid and electric options in many of the same market segments, a lot of KGM’s global success is coming from markets in Europe and South America.The brand said newly launched hybrid versions of its range were a major source of growth, now accounting for nearly a third of its global sales.In Australia last year, KGM was down 23.7 per cent year-on-year, with 4116 sales. This places it in a similar mid-tier sales bracket to Geely, Omoda Jaecoo, and Skoda. The brand is no doubt hoping the next-gen diesel Musso will reignite sales as it and many brands struggle for relevancy in a changing market. The Musso 4x4 ute is the brand’s best seller, accounting for nearly half of its volume in Australia over the course of 2025, with the related Rexton 4x4 SUV accounting for a third of the brand’s volume last year.However, while KGM faces tough competition from its Chinese rivals, that hasn’t stopped it tapping into some of the most renowned brands for technology, which should pay dividends in the future.For example, KGM has an arrangement with BYD to source its signature lithium iron phosphate (LFP) ‘Blade’ batteries, and has also established a partnership with Chery to develop a vehicle on the Chinese giant’s new platform and gain access to its hybrid tech.Stay tuned for more on KGM’s plans for the diesel Musso ute later in 2026.