[Courtesy of SsangYong Motor]
SEOUL -- SsangYong Motor, a minor South Korean carmaker controlled by India's Mahindra & Mahindra, will establish its first direct overseas sales subsidiary in Australia in November to bolster its marketing abroad.
SsangYong said in a statement Monday that with the establishment of its sales subsidiary in Australia, it would strengthen its overseas business. In Australia, the company plans to sell all major models such as Tivoli, G4 Rexton, and Rexon Sports SUVs as well as new models.
SsangYong CEO Choi Jong-shik said the Australian subsidiary would become "a new milestone" for expanding global sales. "Through a direct corporate structure, we will strengthen our flexible and efficient marketing strategy to increase our brand image in the Australian market," he was quoted as saying.
SsangYong made a turnaround in 2016 for the first time under Mahindra, helped by robust sales of its Tivoli compact and Korando C mid-size SUVs. In 2017, the company sold 143,685 vehicles, down 7.7 percent from a year ago.
SsangYong's first-half sales this year stood at 66,948 units, down 4.8 percent from a year earlier, but investors reacted favorably to Mahindra's pledge to invest 1.3 trillion won ($1.1 billion) in SsangYong in the next three to four years during South Korean President Moon Jae-in's visit to India two weeks ago. Mahindra acquired SsangYong in 2011.
reporter
Lim Chang-won
cwlim34@ajunews.com
