▪ SYMC signs contracts with Pang Da Automobile Trade Co., Ltd. and SCAS Investment Group Co., Ltd., the largest automobile distributors in China, for distributorship within the country.
▪ Plans are laid out to establish some 150 dealership across the country by the year 2013.
▪ SYMC plans to export 30,000 to 50,000 units annually to China by 2013, becoming the number 1 imported SUV brand in the country.
Ssangyong Motor Company (president & CEO Lee Yoo-il; www.smotor.com) , part of the US$12.5 billion Mahindra Group, announced on June 8th that it would return to the China market in a full gear by signing distributorship contract with one of the largest automobile sales company. This will certainly expand SYMC’s export as well as augmenting its presence in the Chinese market.
SYMC held a signing ceremony at its Pyeongtaek Plant where management of three companies participated including president Pang Qinghua of Pang Da Automobile Trade Co., Ltd. and president Chen Wenpei of SCAS Investment group Co., Ltd.
Ssangyong Motor Company plans to collaborate with the 2 companies to expand the dealership up to 150 by the year 2013. Positioning the new Korando as the flagship model, SYMC will sell 30,000 to 50,000 vehicles annually by 2013.
With close cooperation with Chinese sales partners, SYMC ambitiously set the goal to become number 1 imported brand in China’s SUV market.
SYMC’s plan for export shows an increase by a large scale considering that the company’s export from 2005 to 2010 remains at only 16,000 units, and it plans to expand its export by a close cooperation with distributors.
Meanwhile, Ssangyong’s export to China will resume in August, and Pang Da Automobile Trade Co., Ltd. and SCAS Investment Group Co., Ltd., will set up separate sales companies to cover 21 northern sheng(state) and cities and 10 sheng(state) and cities in the south respectively.
Pang Da and SCAS are automobile sales companies in China that have been in the industry for quite many years. Pang Da, especially, is the largest automobile sales group within the country with sales record of 470,000 units in 2010.
“The signing of the sales contract with our Chinese partners laid a new ground for returning to Chinese market, following our present core markets of Russia and Latin America,” said Lee Yoo-il, president and CEO of SYMC. “With close cooperation with our Chinese partners, we will expand the export volume and make China Ssangyong’s strategic platform for export,” he added.