Ssangyong Motor (CEO Lee Yoo-il; www.smotor.com), part of the USD 16.7 billion Mahindra Group, today announced that the company sold a total of 11,805 units in February 2014 – 5,502 units in domestic sales and 6,303 in exports, including CKD kits.
Its sales in February increased by 19.4% year-on-year and 14.3% on an accumulated basis, backed by the upward trend in sales of the Korando family brand with the biggest sales growth in the domestic market.In particular, its domestic sales rose 26.9% compared to the same month last year and cumulative sales grew 30.8%. It was attributed to a sales growth of over 20% in main models including the New Korando C, Korando Sports and Rexton W.
The company’s exports rose 13.6% year-on-year and 2.9% on an accumulated basis driven by sales growth in China, Europe, as well as Russia, based on the popularity of the New Korando C in overseas markets.
Despite the continuing slowdown of economic growth in the main export markets, Ssangyong continues to post a sales uptrend thanks to the increasing demand for the New Korando C which offers improved fuel economy and the newly reborn New Korando Turismo.
Meanwhile, the company is diversifying its export markets by expanding share of exports to the Chinese and European markets, getting out of the current weighted market structure towards the Russian and Middle-American markets.
Lee Yoo-il, CEO of Ssangyong Motor, commented, “We keep posting the biggest sales growth in the domestic market and seeing sales uptrend in export markets thanks to the strong sales of our main models,” adding, “We will meet the increasing global demand for SUVs by enhancing differentiated strengths as a specialized SUV maker, exploring new markets and diversifying our export market structure.”