SsangYong posts record sales in 2016, Tivoli brand the growth driver

Everything is official about it now. Earlier today, Autocar Professional had hosted news that the Mahindra Group-owned SsangYong Motor Co has recorded its highest-ever sales in a calendar year in 2016. That piece of news has just been confirmed by an official SsangYong Motor Co release, albeit that 2016 sales are the second-highest ever for the Korean carmaker. 

SsangYong’s global sales hit a 14-year high in 2016 – 155,844 cars, marking a year-on-year growth of 7.7 percent – powered by a 26.6% YoY growth in sales of the Tivoli SUV (56,935 units) in the domestic market and abroad (28,886 units).

Tivoli powers sales with 85,821 units

Sales in 2016 are the company’s highest since 2002 when the company sold a total of 160,010 units. The Tivoli brand of SUVs led this significant growth by selling 85,821 vehicles in 2016, up 34.7% compared to 2015. This comprises 56,935 units (+26.5% YoY) in the domestic market and 28,886 units (54.7% YoY) as global exports.

The next best-seller for the company is the Korando Sports SUV, which sold 34,540 units -- 26,141 (+0.9% YoY)in the domestic market and 8,399 units in overseas markets (-2% YoY)

It also marks the first time since 2003 that SsangYong's domestic sales have breached the 100,000 mark (see detailed sales table below).

The South Korean carmaker also posted record-high monthly sales in December 2016 – 16,705 units and a growth of 10.5% over December 2015 numbers. It is the best monthly sales performance in the company’s history, again driven by its top-selling Tivoli brand – Tivoli and Tivoli Air (export model: XLV). Sales of the Tivoli brand exceeded 9,000 units in December for the first time since its launch.

Sales of the Tivoli brand, which have remained No. 1 in the compact SUV market since its launch in January 2015, surpassed 100,000 units on an accumulated basis on November 20, 2016. It took 23 months to reach the 100,000 mark since its launch, and it is the fastest time for any SsangYong model, according to the company.

Helped by the sales growth of the Tivoli brand models, SsangYong’s 2016 domestic sales also rose by 3.9% year-on-year, exceeding 100,000 units in 13 years since 2003 (131,283 units). Furthermore, the company recorded continued sales uptrend for the seventh year in a row.

Exports see an uptick

In 2016, exports of the Tivoli brand rose 54.7% over 2015 thanks to its popularity not only in Europe and Central and South America but also in Iran. It was the biggest contributor to SsangYong’s overall exports’ growth of 15.9% year-on-year.

SsangYong foresees a promising future in overseas markets since the company expanded its market from Europe and Central and South America to new emerging markets by entering Southeast Asia, and resuming shipping to Russia. The Middle East including Iran, SsangYong’s No. 1 export market in 2016, is also emerging as the main export market.

Commenting on the record sales in 2016, Choi Johng-sik, CEO of SsangYong Motor Company, said, “In 2016, SsangYong achieved its best year in 14 years by selling more than 150,000 vehicles based on the sales growth of the Tivoli brand models. In 2017, we will further strengthen our status as a prestigious global SUV maker by launching a large premium SUV.”

Related:

- Mahindra sells 16,698 PVs in December 2016, down 8%

- Electric SsangYong Tivoli to head firm's battery-powered models