A total of nine companies have submitted a letter of intent (LOI) in a tender for SsangYong Motor. The bidders included SM Group, which places 38th in the Korean business group rankings. It is expected to form a three-way battle with Edison Motors and Cardinal One Motors.Ernst & Young Han Young, the
The sales volume of imported cars increased 15.2 percent year on year in the first half of this year. The most popular foreign car brand was Mercedes-Benz, followed by BMW, Audi, Volkswagen and Volvo. In that period, Mercedes-Benz Korea and BMW Korea sold more cars than GM Korea, Renault Samsung Mot
Last month, Hyundai Motor Group, GM Korea, Renault Samsung Motors and SsangYong Motor sold 134,761 and 522,786 cars at home and abroad, respectively. The domestic sales volume showed a year-on-year decline of 23.6 percent, whereas the overseas sales volume rose 32.5 percent from a year earlier.Hyund
SsangYong Motor Co. announced on July 1 that the company sold a total of 8,504 units in June 2021 – 5,724 units in domestic sales and 2,780 in exports.SsangYong’s sales exceeded 8,000 units for the second straight month on the back of the rise in the domestic sales thanks to the upgraded models incl
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Sampyo Cement’s facility investment should usher in mid/long-term cost-saving effects, as witnessed at peer Ssangyong C&E. Cement price hikes and demand growth are also to translate into margin i
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Along with Sungshin Cement, Asia Cement’s kiln capacity-to-market cap ratio is rated the lowest among peers. Given recent cement market improvement, effects from the acquisition of Halla Cement a
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Ssangyong C&E is set to enjoy strong economic and social benefits from the replacement of bituminous coal with alternative fuels, thanks mainly to superior use of its old facilities. In addition,
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Cement in short supply owing to peak season demand and investment in alternative fuel-based facilitiesOver the past decade, clinker output has failed to surpass 50mn tons pa, with the kiln utiliz
SsangYong Motor's unionists have approved the company’s proposal for belt tightening. The struggling automaker, which is undergoing court-managed rehabilitation procedures, said on June 8 that 52.1 percent (1,681) of the 3,224 union members voted for the survival plan.Earlier, SsangYong Motor ma
The domestic car sales volume decreased last month due to the ongoing automotive chip shortage. That month, Kia’s passenger car and recreational vehicle (RV) sales volume exceeded that of Hyundai Motor Co., and SsangYong Motor Co., which is in the process of corporate rehabilitation, outperformed Re
SsangYong Motor Co. announced on June 1 that the company sold a total of 8,810 units in May 2021 – 4,956 units in domestic sales and 3,854 in exports.SsangYong’s May sales jumped 101.1 percent month-on-month and 6.3 percent year-on-year as the company solved the back orders, which resulted from prod
Imported car sales in April rose 11.5 percent on year in the Korean automobile market. The best-selling imported car brand was Mercedes-Benz, followed by BMW at second place. In particular, Mercedes-Benz and BMW, which do not manufacture cars in Korea, sold more cars than GM Korea, Renault Samsung a
Three foreign automakers operating in Korea -- Renault Samsung Motors, GM Korea, and SsangYong Motor -- have been hit by a triple whammy: labor-management disputes, sluggish sales and a shortage of semiconductors.Renault Samsung Motors' labor union will go on a general strike indefinitely starti
Hyundai Motor Group, GM Korea, Renault Samsung Motors and SsangYong Motor sold 630,691 cars at home and abroad last month, down 6.8 percent from the previous month.Their domestic sales volume fell 3.8 percent to 135,601 and their overseas sales volume fell 7.6 percent to 495,090 mainly due to the on
SsangYong Motor Co. announced on May 3 that the company sold a total of 4,381 units in April 2021 – 3,318 units in domestic sales and 1,063 in exports.SsangYong’s April sales plunged 35.7% from a year earlier as the production line has halted for 12 days due to a shortage of semiconductor chips and
SsangYong Motor has been put under court receivership again 10 years after its graduation from the process in March 2011.The Seoul Rehabilitation Court announced on May 15 that it will begin a rehabilitation procedure for SsangYong Motor. The troubled automaker is expected to submit its rehabilitati
Creditors are increasingly agonizing over the start of SsangYong Motor's rehabilitation process.The Seoul Rehabilitation Court sent a letter of opinion to creditors of SsangYong Motor on April 1, asking if SsangYong would start its rehabilitation process, and the creditors failed to make a decis
The three foreign-owned automakers in Korea -- GM Korea, Renault Samsung Motors and SsangYong Motor –- logged in the first quarter of 2021 the lowest sales since the 2009 foreign exchange crisis in Korea.Their combined domestic sales totaled 43,109 units in the first quarter, down 23.8 percent from
SsangYong Motor announced on April 1 that the company sold a total of 7,152 units in March 2021 -- 4,306 units in domestic sales and 2,846 in exports.SsangYong’s March sales increased 156.4 percent month-on-month as its production line has resumed operations thanks to cooperation from parts supplier
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In the wake of a recent share price surge, we see several factors that need to be checked in order to justify an increased valuation for the cement industry. We view the key check points as being