▪ Ssangyong’s global sales in November dropped by 27.5% from a year earlier, due to reduced shipments to main export markets
▪ Its cumulative domestic sales continued to increase since 2009, up 5.9% over the same period last year
▪ Ssangyong pushes ahead with plans to expand its exports such as relocation of production line for Tivoli
Ssangyong Motor (CEO Lee Yoo-il; www.smotor.com), part of the Mahindra Group, today announced that the company sold a total of 10,222 units in November 2014 – 5,806 units in domestic sales and 4,416 in exports including CKD kits.
Despite the continuous sales uptrend in the domestic market, its global sales decreased by 27.5% year-on-year due to reduced shipments to its main export markets affected by the strong won.
Its domestic sales continued to show strong growth by posting a rise of 6.4% in November from the previous month and 5.9% for the first 11 months over the same period last year, backed by increasing sales of main models.
In particular, the accumulated sales of the Korando Sports (export name: Acyton Sports) and the New Korando C (export name: Korando C) for the 11 months increased by 22.8% and 5.4% respectively compared to the same period 2013, which means they are expected to record year-on-year sales increase for three consecutive years since 2011.
However, its monthly exports which had been on the recovery path dropped by 41.5% from a year earlier due to reduced shipments to main markets amid the Ukraine crisis, and its cumulative exports slightly declined by 10.3% year-on-year despite the effort of diversification of export markets.
Meanwhile, Ssangyong continues to make all-out efforts to expand its exports and to successfully launch the upcoming SUV in January 2015. The company held the largest-ever Global Distributors Conference, completed relocation of workers at production line for the new SUV, and recently unveiled a name of the upcoming SUV, ‘Tivoli’.
Lee Yoo-il, CEO of Ssangyong Motor, commented, “Even though our exports declined due to external environmental factors, it is very meaningful that our domestic sales have maintained the uptrend since 2009,” adding, “We are doing our best to ensure the successful launch of the Tivoli next year to live up to consumers’ expectations and trust.”