M&M's Ssangyong Motors posts 6.8 % rise in September sales
04 October 2012
South Korean automobile manufacturer Ssangyong Motor Company, a part of the $15.4-billion Mahindra Group, has posted a 6.81-per cent rise in total sales for September as against the same period a year ago.
Mahindra and Mahindra had acquired in Ssangyong for $473 million in March last year, following filing of bankruptcy protection.
''The sales show positive recovery as the number of working days increased and the back orders issue from some assembly lines has been solved,'' Lee Yoo-il, chief executive officer of Ssangyong Motor, said.
''Still there are difficulties such as the economic depression in the European market,'' he added.
During the month under review, the company sold a total of 10,147 vehicles, of which 4,036 units were sold in the Korean market, while exports stood at 6,111 units during the month.
The company's domestic sales rose 34.5 per cent during the month under review, while on a sequential basis (compared with August) its domestic sales grew 8.9 per cent.