The Korea Herald


Ssangyong Motor’s July sales rise 8% on Tivoli exports

By 안성미

Published : Aug. 1, 2016 - 14:08

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[THE INVESTOR] Ssangyong Motor on Aug. 1 said its July sales grew by 8.2 percent from a year earlier, aided by rising exports of Tivoli sport utility vehicle that offset decrease in domestic sales.

The Korean unit of Indian auto giant Mahindra & Mahindra sold 12,784 units in July, in comparison to 11,814 units from the same month last year.

Ssangyong Motor Tivoli Air Ssangyong Motor Tivoli Air

Domestic sales decreased 8.1 percent on-year to 7,546, which also reflected a 22.6 percent decline from June. The downturn is attributed in part to the termination of the government’s tax cut program -- which ended on June 30 -- that slashed consumer tax by 30 percent on new car purchase.

Its overseas sales, however, jumped 45.3 percent on-year to reflect 5,238 units in July, thanks to the popularity of the Tivoli brand, especially in Europe.

“The Tivoli brand models, which posted sales growth of 45% on-year, led our sales momentum,” Choi Johng-sik, CEO of Ssangyong Motor said in a statement. “We will expand our global sales by strengthening our product lineup in the second half of 2016.”

By Ahn Sung-mi (