▪ August sales soar 2.7 percent from previous month, showing improvement on accumulated basis
▪ August domestic sales jump 7.5 percent YoY and Jan-Aug domestic sales jump 6.8 percent YoY
▪ SsangYong to increase global sales by expanding overseas market with global launch of Rexton
SsangYong Motor Company (CEO Choi Johng-sik; www.smotor.com/en), part of the Mahindra Group, today announced that the company sold a total of 11,725 units in August 2017 – 8,255 units in domestic sales and 3,470 in exports.
SsangYong's August sales increased 2.7% from the previous month, showing a recovery with a narrow drop from 10 percent decline YoY in July to 3.7 percent decline YoY in August. Such improvement was attributed to the successful launches of new models including the Rexton and Tivoli.
Its January-August sales decreased 6.1 percent compared to the same period last year, but its cumulative decline slightly narrowed from 6.4 percent year-on-year in Jan-July based on increased domestic sales and improved exports.
In the domestic market, the Tivoli brand with an average monthly sales of over 4,000 units and the newly launched Rexton continued to enjoy the upward trend. As a result, the company's domestic sales jumped 7.5 percent in August from a year earlier and 6.8 percent year-on-year in January-August.
The Tivoli, in particular, still leads the company's overall domestic sales, even though it faces fierce competition due to new rivals. The Tivoli's January-August sales increased 1.5 percent year-on-year, from 36,735 units to 37,290 units helped by the release of the Tivoli.
The Tivoli Gear Edition, a first-ever special custom-built trim in the domestic market, along with the 7-seater Rexton account for 40 percent of each model's total sales, a receiving favorable response from the market.
SsangYong's August exports recovered to reach the 3,000 unit level in 5 months since March, as the shipments of the Rexton began for the European market.
Its August exports soared 26 percent from the previous month, while they declined 22.9 percent from a year earlier. Overall, its exports recorded the sales growth for three consecutive months since May, showing a steady recovery.
The company continues to focus on the global promotion of the Rexton for its successful launch in the European market, by conducting large scale marketing events such as the Rexton Trans-Eurasia Trail which drives over 13,000Km across 10 countries from China to the U.K.,
The Rexton, which is scheduled to be introduced to the European consumers for the first time at the 2017 Frankfurt Motor Show, will be sold globally in line with the launch event in the U.K.
Choi Johng-sik, CEO of SsangYong Motor Company, commented, "Our global sales started to recover thanks to the good performance of the newly launched models," adding, "We will increase our global sales by strengthening our exports aggressively with the launch of the Rexton in Europe."