Ssangyong Motor Co., the local unit of Indian sport utility vehicle maker Mahindra & Mahindra, said Monday that its sales grew 9.5 percent on-year in January on the strength of consumer demand for its popular Korando family of cars.
The carmaker's total sales hit 11,634 units last month compared with 10,620 vehicles sold a year earlier. Domestic sales reached 5,445 units, a 34.9 percent surge from the same one-month period in 2013. Exports, including knockdown kits, were tallied at 6,189 vehicles, a 6 percent decrease from figures released for the first month of last year.
"Sales were bolstered by demand for the Korando family brand of sport utility vehicles," the company said in a press release. It said sales of the new Korando C, Korando Sports and Korando Turismo all contributed to good monthly figures.
The increase in sales is noteworthy because the Lunar New Year holiday affected the number of working days last month. The three-day holiday began last Thursday.
On the export front, demand from Russia helped shipments to rise 1.8 percent on-year excluding knockdown car kits.
It said more days off directly impacted knockdown exports that stood at just 72 units.
The company, the fourth-largest original equipment car manufacturer in the country, said it expected to do well this year with sales likely to grow in 2014 vis-a-vis last year.
If sales grow this year, it would mark the fifth year in a row for Ssangyong to make more cars on an annual basis. (Yonhap News)