▪Ssangyong’s global sales in August decreased by 15.9% from a year earlier to 9,767 units including domestic sales of 5,158 units and exports of 4,609 units
▪ Its cumulative sales for eight months this year maintain uptrend, growing 2.4% YoY backed by strong sales of Korando Sports in domestic market
▪ Ssangyong expects its sales will recover from September based on its efforts to diversify export markets including China and Europe, and to strengthen marketing strategy
Ssangyong Motor (CEO Lee Yoo-il;www.smotor.com/en
), part of the Mahindra Group, today announced that the company sold a total of 9,767 units in August 2014– 5,158 units in domestic sales and 4,609 in exports including CKD kits.
Its monthly sales decreased by 15.9% year-on-year due to reduced working days and the strong won, but on an accumulated basis its sales for the first eight months increased by 2.4% compared to the same period last year.
In the domestic market, its monthly sales were at the same level as the year before and its cumulative sales rose by 10.5% driven by the Korando Sports (exports name: Actyon Sports), whose sales have showed an average increase of 30%, from the previous year.
Ssangyong’s monthly exports and cumulative exports also decreased by 28.6% and 3.7% respectively affected by reduced shipments to Russia and Chile as well as reduced working days, but it is expected that export volume will recover soon as its shipments are increasing thanks to a diversification of export markets including Chinese and European markets.
In particular, its cumulative exports to China and Europe grew by 252.7% and 56.2% respectively compared to the same month last year.
Ssangyong plans to expand its sales network and annual exports to Chinese market to 40,000 units by 2017. As part of this effort, the company signed a contract extension with Pang Da Automobile Trade Co., Ltd, the biggest auto sales company in China, in August this year.
Lee Yoo-il, CEO of Ssangyong Motor, commented, “Our monthly sales in August slightly dropped due to reduced working days and the adverse exchange rate from a year earlier,” adding, “However, we expect that our sales will return to the normal level this month since sales are increasing based on aggressive sales strategy and diversified export markets including Chinese and European markets.”