▪ Launches XLV diesel engine version to meet explosive demand for sub-compact SUV market
▪ Aim to enhance competitiveness in Chinese market, signing a letter of intent (LOI) to establish a joint venture with Shaanxi Train Group last year
SsangYong Motor Company (CEO Johng-sik Choi; www.smotor.com/en) launched the XLV diesel engine model at the 2017 Shanghai Motor Show to meet fast growing demand for subcompact SUVs in the Chinese market.
SsangYong opened a 540-square-meter exhibition hall at the Shanghai Motor Show and exhibit a total of four models (six units) including the new Korando, Tivoli, and XLV petrol models.
Mr. Han-gyu Lim, the head of Export HQ, said “In its 60-year history, SsangYong Motor has grown into a world-class SUV specialist with know-how in the development of authentic SUVs," adding, “XLV diesel model introduced today has been developed following strict European standards from design to production, and will offer not only powerful performances but also versatility by meeting needs for various lifestyles."
SsangYong explained that the addition of the diesel model to existing Tivoli petrol model will broaden selection for consumers. Last year, new car sales in the Chinese market grew 15% year on year to 24.4 million units. Especially, the Chinese SUV market on which SsangYong Motor focuses grew 45% year on year, and the sales of under-1.6-liter models, which Tivoli brands fall under, increased by 21.4%.
In the meantime, SsangYong concluded a letter of intent (LOI) to establish a joint venture with Shaanxi Train Group in October last year and is studying the feasibility of the construction of a production factory, considering that securing a local production base is absolutely needed in order to increase competitiveness and sales volume in China market.
☞ Vehicle Display : XLV diesel (1), XLV petrol (1), Korando (2), Tivoli (2)