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(2nd LD) SsangYong Motor adds new SUV to boost sales

All News 14:26 January 09, 2018

(ATTN: ADDS annual sales target figure in 3rd para)

SEOUL, Jan. 9 (Yonhap) -- SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., on Tuesday launched a new sport utility vehicle to better capitalize on rising demand for SUVs.

The SUV-focused carmaker aims to sell 30,000 Rexton Sports models, or 2,500 units a month, in the domestic market this year, SsangYong Motor President Choi Jong-sik said in a press conference.

For the whole of 2018, the carmaker aims to sell 110,000 vehicles domestically this year, up from 103,554 units sold in 2017, he said, without giving a target figure for exports.

The 2.2-liter diesel-powered Rexton Sports SUV is domestically available from Tuesday, with a price tag of 23.5 million-30.9 million won (US$22,000-$29,000), the company said in a statement.

The company plans to gradually export the new SUV after introducing it at the Geneva Motor Show in March, a spokesman said.

The all-new Rexton Sports shares the same platform with the G4 Rexton SUV flagship model launched last year.

For all of 2017, the maker of the Rexton and Tivoli SUVs sold a combined 143,685 vehicles, down 7.7 percent from 155,754 a year earlier, the company said.

Indian carmaker Mahindra & Mahindra Ltd. owns a 72.85-percent stake in SsangYong Motor.

SsangYong Motor's Rexton Sports SUV (Yonhap)

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