SsangYong's March sales fall 29 pct on weak demand

SEOUL, April 1 (Yonhap) -- SsangYong Motor Co. said Wednesday its sales fell 29 percent last month from a year earlier due to lower demand for its models.

SsangYong Motor sold 9,345 vehicles in March, down from 13,158 units a year ago, the company said in a statement.

Domestic sales plunged 38 percent to 6,860 units from 10,984 a year ago. Exports declined 4.6 percent to 2,485 units from 2,606, the statement said.

From January to March, sales fell 31 percent to 24,139 units from 34,851 in the same period a year ago, it said.

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

In 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.

kyongae.choi@yna.co.kr
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