SEOUL, Feb. 19 (Korea Bizwire) — The current situation pertaining to GM Korea is reminding auto industry veterans of the struggles of SsangYong Motor a decade ago, except a similar result this time around promises to wreak greater harm on the national economy. Once briefly owned by Daewoo Motors, SsangYong Motor was put on the [...]
SEOUL, Feb. 13 (Korea Bizwire) – SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., swung to a net loss last year on weak exports and the strong won, the company said Tuesday. For the whole of 2017, the company posted a net loss of 65.8 billion won (US$61 million), [...]
SEOUL, Dec. 24 (Korea Bizwire) – SsangYong Motor’s Tivoli DKR has successfully completed the notorious Dakar Rally, the manufacturer said on Tuesday. The Dakar Rally, known colloquially as “the race from hell”, is famous for its brutal conditions and harrowing racing schedule, leaving many participants with injuries and accidents. Against the odds, the Tivoli DKR, which [...]
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 [...]
SEOUL, Nov. 27 (Korea Bizwire) – Members of the Ssangyong Motor chapter of the Korean Metal Workers’ Union want to resolve therir dispute with their employer and are willing to head to India for a face-to-face with the top leadership of Mahindra and Mahindra, the Indian auto corporation that owns a majority stake in Ssangyong. [...]
SEOUL, Nov. 2 (Korea Bizwire) – SsangYong Motor Co. said Thursday that it has added some luxury features to its flagship G4 Rexton sport utility vehicle (SUV) to revive demand after posting a 22 percent on-year drop in domestic sales last month. The SUV-focused carmaker launched the limited edition of the ‘G4 Rexton Eurasia’ model [...]
SEOUL, Jun. 15 (Korea Bizwire) — Automakers in South Korea are expected to vie fiercely for a bigger slice of the market for subcompact sport utility vehicles (SUVs) following Hyundai Motor Co.’s entry into the fast-growing segment, analysts said Wednesday. In an extravagant rollout in Seoul, South Korea’s leading automaker Hyundai unveiled its first subcompact [...]
ILSAN, Mar. 31 (Korea Bizwire) — India’s Mahindra Group and its South Korean unit SsangYong Motor Co. will jointly develop an electric vehicle (EV) using the same platform that can target large emerging green car markets in the coming years, the automotive conglomerate’s chief said Thursday. The companies are aiming to develop high-end EVs by [...]
SEOUL, Feb. 15 (Korea Bizwire) – Ssangyong Motor Co., a local unit of Indian carmaker Mahindra & Mahindra Ltd., said Wednesday that it swung to the black last year, posting a net profit for the first time in nine years. Net profit came to 58.1 billion won (US$50.9 million) in 2016, compared with a net [...]
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 [...]