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SsangYong's Jan. sales rose 13% on SUVs

An exterior view of SsangYong Motor's Pyeongtaek factory in April. (Yonhap)
An exterior view of SsangYong Motor's Pyeongtaek factory in April. (Yonhap)
SsangYong Motor Co. said Monday its sales rose 13 percent last month from a year earlier on improved demand for its recreational vehicles amid the COVID-19 pandemic.

SsangYong Motor sold 8,648 vehicles in January, up from 7,653 units a year ago on strong overseas sales of the Rexton and Rexton Sport models, the company said in a statement.

Domestic sales rose 1.6 percent to 5,648 units last month from 5,557 the previous year, and exports jumped 45 percent to 3,030 from 2,096, it said.

SsangYong Motor's lineup consists of the flagship G4 Rexton, as well as the Tivoli, Korando and Rexton Sports.

Indian parent Mahindra & Mahindra Ltd. is in the process of selling its majority stake in SsangYong to reorganize its investments amid the pandemic.

In 2011, Mahindra acquired a 70 percent stake in SsangYong for 523 billion won and now holds a 74.65 percent stake in the carmaker.

On Dec. 21, debt-laden Ssangyong filed for court receivership, as it struggles with snowballing debts amid the pandemic. (Yonhap)
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