Published on June 30th, 2013 | by Daniel Sherman Fernandez0
Ssangyong records 18.2% growth in sales volume
Ssangyong Motor announced recently that the company recorded sales of 31,265 vehicles (13,293 vehicles in the domestic market and 17,972 in exports including CKD, respectively), revenue of 751.6 billion won. Ssangyong’s sales grew by 18.2% compared to the same period last year, revenue by 16.7%, and its operating loss was reduced by 43%.
Sales growth in the first quarter was largely driven by the all new Stavic luxury MPV which was launched last February, and the domestic and overseas sales increased by 37% and 7.4% respectively compared to the same period last year to 13,293 and 17,972 vehicles. Domestic sales, in particular, have been on an upward trend for three consecutive months since January recording 37% growth over the same period last year, which is the highest in the domestic automotive industry. Also, in exports, due to an aggressive entry into overseas markets and successful introduction of the all new Rexton W in the Indian market, Ssangyong Motor recorded a growth of 7.4% over the same period last year, and this growth trend is expected to continue with the planned increase in exports to Russia and higher production of SUV models.
Lee Yoo-il, CEO of Ssangyong Motor, said “Despite the global economic recession, we have been able to record the highest sales growth rate in the domestic automotive industry following last year. As a result, we recorded growth in both our sales and revenue and also were able to improve our profit and loss statement.” He further explained that “this is an achievement after years of management and labor’s hard work for normalization of the business. We will continue to make efforts to expand our sales volume and improve profitability by continuously introducing new models such as the Stavic.”