SsangYong Motors has been doing exceptionally well in the year 2013, in all of its markets. The company has been making record sales since the beginning of the year 2013.
SsangYong Motors recently declared that it has sold a total of 12,858 vehicles in the month of June 2013. Out of this 5,608 were sold in its domestic (Korean) market while 7,250 units were exported to its international markets as Completely Knocked Down (CKD) kits. Its sales have been witnessing a rising curve since 4 consecutive months now.
SsangYong Motor is a Korean firm that came into existence in the year 1954. It is among the top 5 automobile industries in South Korea. In the year 2011, the Indian industrial giant, Mahindra and Mahindra limited, has bought a total of 70% of SsangYong Motor share after he was chosen as the preferred bidder in the year 2010. This trade was given a nod by South Korean Free Trade Commission. Now SsangYong Motor is owned by Mahindra and Mahindra and works as its subsidiary.
The credit for this sales uptrend can be given to Korando Turismo which as proved to be the company’s best seller in domestic as well its international markets since its launch earlier this year. This has largely contributed to the 12000+ sales in each of the past 3 months. The sales for this year have been 28.1% more than the sales achieved in the same period last year. The company’s cumulative sales have also seen a rise of 22.6% as compared to the last year.
SsangYong has seen an increase in demand in its domestic market which is due to the increasing popularity of Korando brand, especially its car Korando Turismo.
Talking about the company’s exports, in June 2013 the exports saw a rise of 20.7% as compared to June last year. Its cumulative sales in the international market also rose by a total of 15.4% as compared to the same period last year. This is largely due to better performance in Russian market, Central American and South American market in Chile. In the first half of 2013, SsangYong Motors exported a total of 18,858 units to Russia alone. This is 46.7% of the company’s total exports. This clearly shows that Russian market is the biggest international market for SsangYong Motor.
Expressing his joy on the company’s consistently brilliant performance, President of the Automotive and Farm Equipment sector at Mahindra and Mahindra, Dr. Pawan Goenka said that “SsangYong’s deep insight into evolving consumer trends in Korea is helping it to drive volumes in its home market. The creation of the Korando sub-brand is another key success factor for the company that is attracting younger buyers who have an active lifestyle.”