Ssangyong Motor sells 12,784 units in July, up 8.2% YoY

The Mahindra Group-owned Ssangyong Motor Company sold a total of 12,784 units in July 2016 - 7,546 units in its domestic market of South Korea and 5,238 in exports.

The carmaker’s July sales surged by 8.2% over the same month last year thanks to an uptrend in exports despite domestic sales going down by 8.1% year-on-year (YoY) due to the terminated tax cut period for individual consumption.

On the other hand, the Tivoli brand models – combined Tivoli and Tivoli Air (export name: XLV) – continued to show an uptrend with an increase of 9.9% YoY.

SsangYong's July exports posted a record high this year, jumping 45.3% compared to the same month last year helped by increased sales to the European market thanks to the global launch of Tivoli Air.

Especially it is the first time in 16 months since March 2015 (5,151 units) that the company's monthly exports exceeded 5,000 units. Its Jan-July exports posted an increase of 4% YoY based on the strong performance in July, even though its Jan-June exports declined by 2.1% YoY.

SsangYong is making its utmost efforts to aggressively increase market share by introducing updated models such as the petrol-powered Tivoli Air and the New Korando Sports 2.2, and by expanding the availability of the Tivoli Air across the globe.

Choi Johng-sik, CEO of SsangYong Motor Company, commented, "The Tivoli brand models, which posted sales growth of 45% year-on-year, have led our sales momentum. We will expand our global sales by strengthening our product lineup in the second half of 2016."

Read more: SsangYong Motor’s global sales up 14.5% in June 2016