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Ssangyong Motor records 3.8% sales Growth In Q1
Ssangyong Motor CEO Lee Yoo-il said: “it is very significant that the company’s operating loss decreased and EBITDA turned to surplus thanks to expanded sales and favorable foreign exchange rate in the 1st quarter,” adding “the company will continue to increase sales and improve profitability through the launch of refreshed models and upgrades.”
In the first quarter of 2012, Ssangyong registered a 6.9 percent growth in sales volume, a 3.8 percent rise in revenues and a 22.0 percent decrease in operating loss compared to the same period of the previous year despite overall sluggish demand caused by the economic downturn in domestic as well as major overseas markets.
The domestic sales in the first quarter recorded a 3 percent drop due to shrinking demand in the national auto market, while sales in exports recorded a 13 percent rise compared to the same period last year thanks to increased sales in Russia, Africa, the Middle East and Asia-Pacific markets.
Above all, the Korando Sports and the Korando C led the sales momentum. The sales of the Korando Sports, which has received a positive response from the market since its launch in January 2012, stood at 9,168 vehicles with a 50.7 percent (6,085 vehicles) increase while those of the Korando C stood at 9,257 vehicles, with a 29.4 percent (7,155 vehicles) increase in domestic sales and exports as compared to the same period last year.
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