SOUTH KOREA: Ssangyong Motor posts Q3 net loss of US$12.3m
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.