Mahindra subsidiary Ssangyong recorded W837.5 billion in sales and W700 million in operating profit in the third quarter, its second consecutive quarter in the black.
The return to profit follows a long period when the brand’s future was in doubt.
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Q3 sales rose 19.9% compared to a year ago as exports of flagship models including the New Korando C increased 12.2%, with domestic sales up 29%.
Ssangyong remains in loss for cumulative period of this year due to posting a big loss in the first quarter. However, the company said that the W13.6 billion operating loss for the first three quarters still represents a considerable improvement on the W66.7 billion operating loss in the first three quarters of last year.
