SEOUL– SsangYong Motor Co. said Wednesday its sales fell 4.4 percent last month from a year earlier on weak domestic demand.
SsangYong Motor sold 7,675 vehicles in August, down from 8,027 units a year earlier, the company said in a statement.
Domestic sales plunged 28 percent to 4,861 units last month from 6,792, while exports more than doubled to 2,814 units from 1,235 during the same period, it said.
From January to August, its sales declined 14 percent to 55,904 autos from 64,873 during the same period of last year.
SsangYong Motor’s lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.
The SUV-focused carmaker has been in the debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. has failed to attract an investor amid the prolonged COVID-19 pandemic and its worsening financial status.
It filed for court receivership in December after failing to obtain approval for the rollover of 165 billion won (US$148 million) of loans from creditors.
Source: Yonhap News Agency