SsangYong, now under the control of India's Mahindra & Mahindra, has unveiled its updated range-topping Chairman W saloon for the domestic market.

It replaces the previous Chairman W, launched in 2008 and comes as SsangYong reports sales up an annual 46% locally and 66% in overseas markets.

The Chairman W costs from KRW57m (US$53,200) to KRW107m and is a direct competitor for market leader Hyundai's Equus.

SsangYong said the new Chairman W has three trims ? CW600 equipped with a 3.2-litre engine, CW700 with a 3.6-litre and V8 5000 that comes with a 5-litre unit. The car also features auto-leveling headlamps and an all-wheel drive system.

Korea's Joongang Daily said the automaker also provided an update on future models - it is developing a midsize sport utility vehicle, code named D200, and a compact crossover utility vehicle. 

“We’ve finished our marketing study and finalized the vehicles’ concepts,” said Lee Jae-wan, senior vice president and chief technology officer of Ssangyong. 

However, he added, it will take at least several years and hundreds of millions dollars to develop the new models.

Ssangyong plans to start exporting its vehicles to China next month. It is also considering entering India, though it has not decided whether to export the Korando C or Rexton, a large SUV, to the country or assemble them there. It is also working to minimise tariffs on its vehicles.

“We cannot make them too expensive for the Indian market,” said Dilip Sundaram, chief financial officer of Ssangyong. “But we are not considering the Chairman model because we want to get some volume.”