SEOUL, Jul. 23 (Korea Bizwire) — SsangYong Motor Co. said Monday it will set up its first direct overseas sales subsidiary in Australia in November to absorb growing local demand for sport-utility vehicles. Upon the establishment of the Australian sales subsidiary, SsangYong Motor plans to launch the Tivoli and G4 Rexton, Rexton Sports SUV models [...]
SEOUL, Jan. 23 (Korea Bizwire) — “The U.K.’s only 4×4 and pick-up magazine” 4×4 has bestowed the titles of “Best Value” and “4×4 Of The Year” on South Korean automaker Ssangyong’s G4 Rexton in its annual 4×4 of the year awards. The G4 Rexton beat out noteworthy competitors such as the Land Rover Discovery and [...]
SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]
SEOUL, Oct. 20 (Korea Bizwire) — SsangYong Motor Co. said Friday it will reconsider its plan to build a factory in China through a partnership with a local company due to regulations and lower demand for South Korean vehicles. As China has taken measures against South Korean products in apparent retaliation against the deployment of [...]
SEOUL, May 17 (Korea Bizwire) – SsangYong Motor Co., the South Korean unit of India’s automaker Mahindra & Mahindra Ltd., said Wednesday it has reentered Saudi Arabia after a four-year absence, as part of its efforts to expand into the Middle East market. The sport utility vehicle-centered carmaker withdrew from the oil rich country in [...]
SEOUL, March 31 (Korea Bizwire) – The 2017 Seoul Motor Show on Friday kicked off its 10-day run with visitors getting a chance to check out upcoming models and new auto-related technologies centered on green and autonomous vehicles. Under the slogan “Design the Future, Enjoy the Moment,” the 11th motor show is showcasing about 300 [...]
SEOUL, Jan. 23 (Korea Bizwire) – According to the latest data from the German Association of the Automotive Industry (VDA) and the Korea Automobile Importers and Distributors Association, Korean automakers sold 171,147 units in Germany last year, up 2.8 percent compared to 2015 (166,563). Although Hyundai Motor Company saw its sales drop by 1.1 percent [...]
SEOUL, Jan. 23 (Korea Bizwire) – Ssangyong Motor Co., the local unit of Indian carmaker Mahindra & Mahindra Ltd., is believed to have posted an operating profit in 2015 for the first time in nearly a decade, market observers noted Monday. The observers estimated the company’s operating profit at 50 billion won (US$42.5 million) last [...]
SEOUL, Jan. 2 (Korea Bizwire) – Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in 2016 due to a decline in overseas sales that more than offset an increase in sales here, data released by the carmakers showed Monday. The combined global sales of the five automakers [...]
SEOUL, Dec. 1 (Korea Bizwire) – Combined sales of automakers in South Korea grew from a year earlier in November on strong demands both at home and abroad, data from the companies showed Thursday. In November, the five South Korea-based carmakers sold 868,458 cars globally, up 5.6 percent from 822,754 vehicles sold in the same [...]