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SsangYong's Sept. sales fall 4.4 pct on weak overseas sales

All News 17:06 October 05, 2020

SEOUL, Oct. 5 (Yonhap) -- SsangYong Motor Co. said Monday its sales fell 4.4 percent last month from a year earlier due mainly to an extended slump in overseas sales.

SsangYong Motor sold 9,834 vehicles in September, down from 10,285 units a year ago due to weak demand for its models amid the COVID-19 pandemic, the company said in a statement.

Domestic sales rose 13.4 percent to 8,208 units from 7,235 during the same period, while exports plunged 46.7 percent to 1,626 from 3,050, the statement said.

The carmaker said it is extending "untact" sales channels such as online global launching to recover exports and is reorganizing sales network to prepare for the post-coronavirus era.

SsangYong said it "will extend its global sales by strengthening strategy for global markets and launching upgraded models, including the upcoming face-lifted G4 Rexton as well as the Tivoli Air."

From January to September, sales fell 24.5 percent to 74,707 units from 98,987 in the year-ago period, 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.

This file photo taken on Sept. 20, 2019, shows SsangYong Motor's plant in Pyeongtaek, just south of Seoul. (Yonhap)

entropy@yna.co.kr
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