M&M’s arm SsangYong Motor sells 10082 units in January 2016

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor has sold a total of 10,082 units in January 2016 - 6,571 units in domestic sales and 3,511 in exports. Due to the expiration of consumption tax cut benefit and slow season, its sales dropped 2.3% compared to the same month last year.

In the domestic market, Ssangyong's sales were down 3.6% year-on-year affected by expiration of tax cut benefit although the Tivoli still shows an uptrend in sales up 39.4% to 3,222 units over January 2015. In the overseas market, the company's exports slightly increased 0.2% from the same month last year that its European exports were up over 40% year-on-year boosted by the Tivoli even though the won dropped the most among emerging market currencies that led to decreased sales.

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.