Ssangyong aims to sell 40,000 cars in Europe this year

FRANKFURT, Germany (Yonhap News) ― Ssangyong Motor Co., South Korea’s smallest automaker, aims to sell 40,000 cars in the European market in 2012 as it moves to expand its global presence, the company’s president said Tuesday.

Meeting with reporters at the Frankfurt Motor Show, Ssangyong CEO Lee Yoo-il said that the carmaker will focus on improving quality and expanding its sales network to better meet consumer demand.

Of the total sales target set for next year, 25,000 vehicles may be sold in Russia, with shipments to Britain set to reach 3,500 units, he said.

To further raise overseas sales, the executive said efforts are underway to steadily increase the number of overseas dealerships from 102 at present.

Ssangyong will start exporting complete knock-down car kits to India for local assembly by Mahindra & Mahindra Ltd., an Indian sport utility vehicle maker that took over the company earlier in the year, he added.

The president said that Ssangyong plans to enter the South African and Egyptian markets, where Mahindra & Mahindra has a strong market presence, as well as seek to export its vehicles to Brazil, Chile and Columbia.

Lee also said that the XIV-1 concept crossover utility vehicle unveiled at Frankfurt will help Ssangyong recover from recent woes.

“Every effort will be made to start full-scale production of the CUV as soon as possible,” he said.

The carmaker, meanwhile, is expected to announce a mid and long-term growth plan within the month that will outline how management plans to build up the company down the road. 

(Yonhap News)