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SsangYong's Feb. sales fall 25 pct on parts shortages

All News 15:22 March 02, 2020

SEOUL, March 2 (Yonhap) -- SsangYong Motor Co. said Monday its sales fell 25 percent last month from a year earlier, partly due to a shortage of parts caused by the outbreak of the new coronavirus limiting its output.

SsangYong Motor sold 7,141 vehicles in February, down from 9,481 units a year ago, the company said in a statement.

Domestic sales plunged 33 percent to 5,100 units from 7,579 over the cited period. Exports declined 9.8 percent to 2,041 units from 2,262, it said.

"Supply disruptions caused by the spreading coronavirus outbreak mainly affected the carmaker's sales last month," a company spokesman said.

SsangYong Motor stopped the operation of its sole plant in Pyeongtaek, 70 kilometers south of Seoul, for nine working days in February, as its Chinese parts suppliers halted operations due to an extended Lunar New Year holiday aimed at ending the spread of the virus outbreak there.

SsangYong Motor's lineup is composed of the flagship G4 Rexton, as well as the Tivoli, Korando and Rexton Sports.

In bankruptcy proceedings in March 2011, Indian carmaker Mahindra & Mahindra Ltd. acquired a 70 percent stake in SsangYong Motor for 523 billion won (US$437.93 million).

Mahindra currently owns a 74.65 percent stake in the SUV-focused carmaker.

This file photo provided by SsangYong Motor shows the company's Korando SUV. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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