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M&M’s arm SsangYong Motor reports 15.9% fall in August 2014 sales

08 Sep 2014 Evaluate

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor sold a total of 9,767units in August 2014 - 5,158 units in domestic sales and 4,609 in exports including CKD kits. Its monthly sales decreased by 15.9% year-on-year due to reduced working days and the strong won, but on an accumulated basis its sales for the first eight months increased by 2.4% compared to the same period last year.

In the domestic market, its monthly sales were at the same level as the year before and its cumulative sales rose by 10.5% driven by the Korando Sports (exports name: Actyon Sports), whose sales have showed an average increase of 30%, from the previous year.

Ssangyong’s monthly exports and cumulative exports also decreased by 28.6% and 3.7% respectively affected by reduced shipments to Russia and Chile as well as reduced working days, but it is expected that export volume will recover soon as its shipments are increasing thanks to a diversification of export markets including Chinese and European markets.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

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