M&M’s arm SsangYong Motor sells 13,359 units in October 2015

06 Nov 2015 Evaluate

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor has sold a total of 13,359 units in October 2015 - 10,008 units in domestic sales and 3,351 in exports. This is the highest-ever monthly sales figures in 18 months since April 2014 (13,634 units), exceeding 13,000 units boosted by the robust sales of the Tivoli. The Tivoli’s sales in October posted a record number since its launch in January 2015.

Ssangyong’s October sales have increased by 15.2% from a year earlier and 16.3% from the previous month. Based on the steep growth in sales, the company’s 2015 annual sales is expected to surpass last year’s figures. Especially, the Tivoli, which set a monthly domestic sales record of 5,237 units in October since its launch, becomes Ssangyong’s first-ever product whose monthly domestic sales exceed 5,000 units since its establishment.

In the domestic market, the company’s sales in October exceeded 10,000 units in 12 years since December 2003 (11,487 units), up 83.5% from a year earlier. The cumulative domestic sales from January to October also recorded the highest-ever figures since 2004, up 44.2% to 79,251 units year-on-year. In the overseas market, the company’s cumulative exports plunged 39.6% compared to the same period last year due to priority supply to the domestic market. However, its cumulative exports to the European market rose by over 70% compared to the same period last year.

Ssangyong is accelerating efforts to increase its sales based on the aggressive product launch strategies such as upgrading its SUVs to satisfy the Euro 6 emission standards and releasing the diesel-powered Tivoli model. The company started to sell the Tivoli diesel and Tivoli 4WD model with a large-scale media test-drive event in Europe last month.

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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