Ssangyongs SUT-1 pickup

Ssangyong's SUT-1 pickup

Ssangyong Motor, a company in recovery from bankruptcy and now controlled by Mahindra, is aiming to lift vehicle sales volume and revenues by around a third by 2013.

The company is planning to launch new models and expand distribution in overseas markets in order to grow.

Ssangyong Motor said in a statement that it aimed to sell 160,000 vehicles in 2013, compared with a 2011 target of 121,000. The car maker also said it targeted revenue of 4 trillion won in 2013, from a projected 3 trillion won for this year.

Ssangyong added that it planned to roll out four new models by 2016.

Ssangyong is currently losing money. At the Frankfurt Show last week, Ssangyong showed its SUT-1 pickup, described as ready for mass market production and able to 'take the brand’s strengths to a whole new area of the global new vehicle market'.