SOUTH KOREA: Ssangyong shows year on year growth
Indian-owned South Korean carmaker Ssangyong posted year on year growth of 6.3% in 2012 with sales of 120,717 units, led by strong home market growth.
Sales in South Korea totalled 47,700 units driven by strong volumes of the Korando C and Sports SUVs.
The company, owned by tractor and utility vehicle specialist, Mahindra & Mahindra, reported that exports for 2012 were flat at 73,017 units with almost 40% of shipments, 32,328 units, going to Russia - the first time the company has booked annual exports of over 30,000 to a single country.
CEO Lee Yoo-il said Ssangyong would further increase global sales through a differentiated marketing strategy and reinforced export product line.
Last month Ssangyong sold 11,871 vehicles (5,365 domestic and 6,506 exports), up 37% over December 2011.