Ssangyong to launch four new models by 2016

New Delhi: Mahindra & Mahindra-owned Ssangyong Motor Co on Thursday said it will launch four new models by 2016 and five facelifts by 2013 to boost sales across the world.

The company is also aiming to sell 1.6 lakh units by 2013 and 3 lakh units by 2016.
   
"Ssangyong will launch five facelift models by 2013 and four completely new models by 2016. Furthermore, the auto-maker will develop and launch electric vehicles," the company said in a statement.

Ssangyong will expand its sales infrastructure in Korea and is seeking a way to establish a domestic finance company to be able to provide one-stop financial solution to the customers, it added.

"With these and other marketing and brand initiatives, the company is targeting a 20 per cent market share in participating segments in Korea," the company said.

The company also unveiled two business goals for mid-to-long term.

Under 'Promise 2013', the company "aims to sell 1,60,000 vehicles recording revenues of four trillion won by 2013. The company also announced 'Aspiration 2016', by which it plans to sell 3,00,000 vehicles recording revenues of seven trillion Won by 2016", it said.

Commenting on the vision, Ssangyong Motor Chief Executive Officer Lee Yoo-il said: "The goal we have set may be challenging, but given the tenacity and determination of the Ssangyong team, I am sure we will achieve it".

In order to expand its global market share, Ssangyong will use Mahindra's existing network in South Africa by March 2012.

"With Mahindra's assistance, Ssangyong will also move to local manufacture of its vehicles in India and Egypt," it added.

Besides, the Korean firm and its Indian parent will cooperate across the value chain, especially in R&D, product development, purchasing and sales to generate "economies of scale" for mutual benefit that shall significantly enhance Ssangyong's cost competitiveness.

Posted in: Automotive