Mahindra and Mahindra's Ssangyong Motor booked KRW696.5bn (US$637.9m) in third quarter revenues and reported a KRW13.4bn net loss.

This was due to a fall in exports despite an increase in domestic sales thanks to refreshed models such as the Korando Sports.

Sales volume fell 4.4% and revenues 6.8%. But the net loss was lower than in Q3 2011.

Operating loss reduced from KRW30.6bn to KRW15.4bn.