SsangYong's July sales rise 8.5 pct on exports

SEOUL, Aug. 2 (Yonhap) -- SsangYong Motor Co. said Monday its sales rose 8.5 percent last month from a year earlier on increased exports.

SsangYong Motor sold 8,095 vehicles in July, up from 7,459 units a year earlier, the company said in a statement.

Domestic sales fell 16 percent to 5,652 units last month from 6,702, while exports more than tripled to 2,443 from 757 during the same period, it said.

From January to July, its sales fell 15 percent to 48,229 autos from 56,846 during the same period of last year.

SsangYong Motor's lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.

The SUV-focused carmaker has been in the debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and its worsening financial status.

It filed for court receivership in December after failing to obtain approval for the rollover of 165 billion won (US$148 million) of loans from creditors.

kyongae.choi@yna.co.kr
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