Expanding Market Shares
SsangYong Motor Company, part of the Mahindra Group in South Korea, announced on Aug. 1 that the company sold a total of 12,784 units in July 2016 – 7,546 units in domestic sales and 5,238 in exports.
SsangYong’s July sales surged by 8.2% over the same month last year thanks to an uptrend in exports despite decreased domestic sales due to expiration of the period for individual consumption tax cut.
In the domestic market, its sales dropped by 8.1% from a year ago due to the termination of the consumption tax cut benefit, while the Tivoli brand models –combined Tivoli and Tivoli Air (export name: XLV)- continued to show an upward trend with an increase of 9.9% over the same month last year.
SsangYong’s July exports posted a record high this year, jumping 45.3% compared to the same month last year, which was helped by sales increase in the European market thanks to the global launch of Tivoli Air.
In particular, it was the first time in 16 months after March 2015 when the company’s monthly exports exceeded 5,000 units (5,151 units). Its Jan.-July period exports posted a 4% increase year-on-year due to the strong performance in July, even though its Jan.-June exports declined by 2.1% year-on-year.
SsangYong is making its utmost efforts to aggressively increase market share by introducing updated models such as the gasoline-powered Tivoli Air and the New Korando Sports 2.2, and by expanding the availability of the Tivoli Air across the globe.
Choi Johng-sik, CEO of SsangYong Motor Company, said, “The Tivoli brand models, which posted sales growth of 45% year-on-year, have led our sales momentum,” adding, “We will expand our global sales by strengthening our product lineup in the second half of 2016.”