Monday, August 08, 2011
By Pranjal Gera
Mahindra’s recently acquired Ssangyong posts highest monthly sales ever
Just a few months after getting acquired by the India’s largest utility vehicle maker Mahindra & Mahindra, the South Korean Ssangyong has started showing sing of turnaround of fortune. The company has registered the highest monthly sales ever in its operations of more than two and a half decade. The major contributor in this record sales figure was heavy sales of H1 model, which clocked its best ever monthly sales in last four years.
It is to be mentioned here that Mahindra & Mahindra had acquired 70 percent stake in the bankrupted South Korean utility vehicle maker Ssangyong last year. The acquisition process got finalized about a few months back.
The total sales of Ssangyong stood at 10,763 units during the month, accounting a growth of over 46 percent over the sales registered in the same month last year. While the domestic sales of the firm stood at 3,506 units, the exports to the overseas market stood at 7,257 units. The growth in the exports was 57 percent, the domestic sales surged by 28 percent.
In the domestic market, a strong dealership network helped the company to improve its sales figures. On the other hand, in the foreign markets, the sales figures surged due to heavy sales of Korando C model in the markets like Russia and Latin America.
In coming months, Mahindra & Mahindra is expected to launch some Ssangyong portfolio vehicles in the Indian market. However, no official statement has been made by the company in this regard.