Ssangyong increases overseas sales

The Korea Times

The Korea Times

Business

Tue, September 26, 2023 | 12:46

Companies

Ssangyong increases overseas sales

Posted : 2014-04-21 18:15

Updated : 2014-04-21 18:38

Ssangyong Motor CEO Lee Yoo-il poses next to the new Korando C in Wiesbaden, Germany, last October when the automaker launched the firm's flagship SUV in Europe. / Courtesy of Ssangyong Motor

By Kim Tae-jong

Ssangyong Motor has been rapidly increasing its foothold in overseas markets, branding itself as an SUV specialist.

According to the automaker, exports jumped to 81,679 vehicles in 2013 from 53,500 in 2008, which helped the automaker set a new sales record and rebound.

It sold a total of 145,649 vehicles at home and broad and set a new sales target for 160,000 this year, up 9.9 percent from the previous year, and 300,000 in 2016.

"To that end, increasing exports is critical," an official from the company said. "We believe the portion of exports to total sales will increase to 67 percent in 2016 from 56 percent in 2013; and it is also important to advance into various markets."

Anticipation is high as the automaker's flagship models have performed well in overseas markets, especially in emerging economies such as Russia, China and Chile.

Ssangyong signed a contract with Sollers, a leading Russian automotive group, in 2010 to supply 160,000 vehicles until 2017. Russia is also the first country where the automaker surpassed the 30,000 in sales mark. It sold 32,328 vehicles in 2012 and 35,897 in 2013.

In China, Ssangyong has aggressively expanded its presence. It sold 6,321 vehicles last year, up 85 percent from the previous year. It aims at doubling the number of sales outlets to 180 this year from 130 in 2013.

The automaker also expects to take an advantage of the free trade agreement with Chile, which is the second-largest market for Ssangyong after Russia. It sold 9,864 vehicles last year, up 9.8 percent from the previous year, and expects to surpass the 10,000 mark this year.

Ssangyong plans to diversify its overseas market to increase exports and is conducting various marketing activities.

It will tap into new markets including countries in Central and South America, Europe and the Middle East.

In line with such a strategy, it launched the new Korando C SUV in Europe last year, which received positive reviews.

Quattroruote, a renowned automotive magazine in Europe, noted that the compact SUV appeals well to European drivers thank to its powerful and responsive engine and its roomy interior.

The automaker plans to strengthen its foothold in Germany, the Netherlands and Belgium by establishing partnerships with local dealers.

To enhance awareness in global markets, Ssangyong has actively participated in international motor shows such as the Geneva Motor Show in March and the Beijing Motor Show this month.

For the expansion of its presence, Ssangyong also plans to strengthen the cooperation with India's Mahindra & Mahindra which acquired the Korean automaker in 2010, expecting a synergy effect.

Already, Ssangyong has expanded its sales in India through Mahindra and the two firms have started to share sales networks in overseas markets.

e3dward@koreatimes.co.kr