Ssangyong Motor vehicle exports hit record high







Published by Gerald Ferreira Date: December 5, 2011
Categories: Mahindra, Ssangyong, Ssangyong Financial

Ssangyong Motor sold 8,971 vehicles in November—6,018 in overseas markets and 2,953 in the domestic market—up 16 percent from a year ago. Cumulative sales also rose by 44 percent in 2011 compared to 2010.

  • Cumulative overseas sales of completely built vehicles for this year exceeded 68,000 in November, breaking the previous record set in 2005.
  • Domestic sales rose 47 percent from October thanks to the all-wheel drive vehicle lineup.

Ssangyong Motor(President & CEO Lee Yoo-il), part of the US$ 14.4 billion Mahindra Group, announced on Dec. 1 that it sold a total of 8,971 vehicles in November -- 6,018 in overseas markets and 2,953 in the domestic market. The figure marks a 16 percent growth over the sales volume recorded in the same month in 2010. Cumulative sales also grew by 44 percent compared to 2010.

The outstanding performance indicates that Ssangyong sales remain solid despite the economic slump following the recent global financial crisis.

Strong export growth, in particular, is leading the overall sales rise. Ssangyong has exported over 6,000 vehicles each month for the last eight consecutive months. The sales volume in November is a 28 percent increase over overseas sales made in the same month in 2010.

Cumulative sales of completely built vehicles also increased by 62 percent, over the same period of the previous year, to 68,467 as of November, breaking the 2005 record, 65,521.

Domestic sales grew by 47 percent from the previous month despite low consumer confidence following concerns about the economic slump thanks to seasonal marketing activities emphasizing the merits of all-wheel drive vehicles.

Meanwhile, Ssangyong is looking to strengthen its brand image even further through various marketing initiatives and service upgrades, as well as showroom improvements.

Ssangyong Motor CEO Lee Yoo-il said, “It is a significant development that we achieved the highest overseas sales record of completely built vehicles in the middle of the global financial crisis,” adding, “We will exert our best efforts to further strengthen our brand in all major markets.”

Ssangyong