Blog: Ssangyong going for a song?
Dave Leggett | 10 August 2009
After the industrial turmoil of recent months, you might well think that South Korea's Ssangyong isn't exactly an attractive prospect. It's effectively down on its knees, the previous 'revival plan' in need of an urgent rewrite, its main creditors none too sympathetic to the financial mess.
But that could be exactly why now is a very good time for someone to acquire it cheaply.
Upsides? The brand is perhaps less damaged than you might think.
The vehicles themselves are hardly sexy, but they have proven themeselves capable of garnering niche sales. And they sell in significant numbers well beyond South Korean shores. It could be a brand with good growth potential.
The manufacturing side? Well, it's a base in East Asia. Calm the workers down and it could start to look like less of a basket case.
A new owner or partner (probably not Chinese) and a bit of a 'new broom' might be just the ticket, if the short-term financial pressures can be resolved.
Remember the similarly hopeless looking mess that was Daewoo Motor at the beginning of the decade? It was turned around very cleverly by GM to become the manufacturing bedrock of the global brand that is now Chevrolet. It can be done.
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