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Mahindra & Mahindra aims to double Ssangyong sales by 2021
By Korea HeraldPublished : March 23, 2016 - 15:48
Ssangyong Motor owner Mahindra & Mahindra said Ssangyong would invest 1 trillion won ($862 million) over the next five years in aims to double its sales.
In 2015, Ssangyong sold 145,000 cars, mainly thanks to the success of its latest Tivoli SUV that was released in January that year.
Pawan Goenka, an executive director at Mahindra, said by 2021, the Indian conglomerate hopes to increase the figure to 300,000 units.
In 2015, Ssangyong sold 145,000 cars, mainly thanks to the success of its latest Tivoli SUV that was released in January that year.
Pawan Goenka, an executive director at Mahindra, said by 2021, the Indian conglomerate hopes to increase the figure to 300,000 units.
“We plan on making the investment to turn Ssangyong into the world‘s most respected carmaker in the SUV segment,” Goenka said in a recent interview with the local press.
In the fourth quarter of last year, Ssangyong moved into the black for the first time in two years, with earnings of almost 2.2 billion won.
The 1 trillion won recently pledged by Mahindra would be made in addition to the 900 billion won it has invested in Ssangyong Motor since 2011.
By Hong Sung-pyo (hong1@heraldcorp.com)
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