SEOUL, Jan. 9 (Korea Bizwire) – SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., on Tuesday launched a new sport utility vehicle to better capitalize on rising demand for SUVs.
The SUV-focused carmaker aims to sell 30,000 Rexton Sports models, or 2,500 units a month, in the domestic market this year, SsangYong Motor President Choi Jong-sik said in a press conference.
The 2.2-liter diesel-powered Rexton Sports SUV is domestically available from Tuesday, with a price tag of 23.5 million-30.9 million won (US$22,000-$29,000), the company said in a statement.
The company plans to gradually export the new SUV after introducing it at the Geneva Motor Show in March, a spokesman said.
The all-new Rexton Sports shares the same platform with the G4 Rexton SUV flagship model launched last year.
For all of 2017, the maker of the Rexton and Tivoli SUVs sold a combined 143,685 vehicles, down 7.7 percent from 155,754 a year earlier, the company said.
Indian carmaker Mahindra & Mahindra Ltd. owns a 72.85-percent stake in SsangYong Motor.