(ATTN: ADDS executive's comment in para 3; CLARIFIES overseas launch in para 7)
SEOUL, June 4 (Yonhap) -- SsangYong Motor Co. on Tuesday launched the upgraded Tivoli SUV in the domestic market as it seeks to further boost sales.
The face-lifted Tivoli comes with a 1.5-liter gasoline turbo or a 1.6-liter diesel turbo engine. The SUV is equipped with a six-speed automatic transmission, the company said in a statement.
"We expect the face-lifted Tivoli will help the company gain a bigger share of the domestic compact SUV market. We aim to sell about 4,000 units a month in the local market," Lee Seock-woo, leader of SsangYong Motor's marketing team, told reporters.
The country's SUV market grew 15 percent to 517,000 units last year from 448,000 in 2015. The compact SUV market soared 87 percent to 153,000 from 82,000 over the cited period, the company said.
The gasoline-powered Tivoli sells for between 17 million won and 22 million won (US$14,000-$19,000), while its diesel version is priced at 21 million won-25 million won, the statement said.
Sales of the Tivoli, first launched in 2014, jumped from 29,000 in 2014 to 153,000 in 2018, it said.
The SUV-focused carmaker said it plans to ship the revamped version to Europe this month. Other SUV models are the flagship G4 Rexton, Tivoli, Korando C and Korando Turismo.
SsangYong Motor sold 59,902 vehicles in the first five months of the year, up 9.8 percent from 54,532 units a year earlier, helped by strong exports.
Indian carmaker Mahindra & Mahindra Ltd. owns a 72.85 percent stake in SsangYong Motor.
Employment conundrum looms large in S. Korea with aging population
Under heir apparent leadership, Hyundai on road to become future mobility solutions provider
While Samsung innovates smartphones, Apple upgrades
(News Focus) Hyundai Motor on way to better performance after no-strike wage deal
S. Korean tech titans to show off premium TVs, smartphones at IFA