Troubled Ssangyong Motor has reported its eighth straight quarterly loss for the third quarter of this year.

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The loss was widely expected as the company recovers from summer strike action and eyes emergence from bankruptcy with a new business plan that is subject to court approval on December 11.


The third-quarter net loss at Ssangyong widened to 89.7 billion won (US$77 million) in the July-September period, compared with a loss of 28.1 billion won for the same period last year, the company said in a statement.


However, its operating loss narrowed to 41.7 billion won for the quarter from 48.4 billion won a year ago.


Sales plunged 66.1 percent to 227.6 billion won due to the impact of a 77-day strike in the summer that brought production to a near standstill.


See also: EXCLUSIVE: Ssangyong ‘on right track’ despite court setback – UK distributor

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