M&M to rebrand its South Korean subsidiary SsangYong Motor

Mahindra & Mahindra (M&M), a part of the $ 16.7 billion Mahindra Group is set to rebrand its South Korean subsidiary SsangYong Motor. The SsangYong brand has acquired some negative connotations and the company is in the process of finalizing a new name.

SsangYong Motor has achieved its highest ever yearly sales in 2013 since 2002, with a total of 145,649 units including 63,970 units in domestic sales and 81,679 in exports. Ssangyong continued to show an upward trend for four consecutive years since 2009 with an increase of 20.7% compared to 2012. The company set a record in exports at the same time as the highest growth in the domestic market.

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.