SsangYong plans five refreshed models by 2013

SsangYong Motors, now Mahindra-owned, will launch five facelift models by 2013 and four all-new models by 2016. These comments were made chairman Dr Pawan Goenka and CEO Lee Yoo-il as they unveiled a five-year business strategy for the company called the SsangYong Motor New Vision Ceremony.

The Indian-owned Korean brand will also develop and launch electric vehicles. This product plan with new more fuel efficient, low carbon-dioxide powertrains and EVs will enable it to provide more eco-friendly products.

As part of ‘Promise 2013’, SsangYong aims to sell 160,000 vehicles recording revenues of four trillion Won by 2013. It also announced the launch of “Aspiration 2016,” by which it plans to sell 300,000 vehicles recording revenues of seven trillion Won.

To expand global marketshare, SsangYong will work with M&M to strengthen its overseas sales network and enter emerging markets. In 2012, SsangYong will commence using Mahindra’s existing network in South Africa and later move to local manufacture of its vehicles in India and Egypt.

Ssangyong will also expand its sales infrastructure in its home country and is affirmatively seeking a way to establish a domestic hire-purchase finance company.

With these and other initiatives, the company is targeting a 20 percent market share in participating segments in Korea.

M&M has indicated that it will bring in the Rexton II (pictured) and Korando SUVs into India. Even as it prepares to launch the XUV500 (W201), M&M plans to have a complete line-up of SUVs for buyers at different price points.

In order to enable it to achieve its targets and implement identified strategies, SsangYong shall improve its organisational capabilities through innovative HR practices and a comprehensive post merger integration exercise.

Even the union has offered its support. Union leader, Kyu-han Kim, declared “The New Vision and strategy will motivate employees to focus on customers and innovatively strengthen internal capabilities. The union will make ceaseless efforts towards new challenges based on a win-win culture.”