SsangYong's May sales rise 6% on strong overseas performance

Published : Jun 1, 2021 - 15:44 Updated : Jun 1, 2021 - 15:44

This file photo, taken April 5, 2021, shows SsangYong Motor's plant in Pyeongtaek, 70 kilometers south of Seoul. (Yonhap)

SsangYong Motor Co. said Tuesday its sales rose 6 percent last month from a year earlier on increased exports of its SUVs.

SsangYong Motor sold 8,750 vehicles in May, up from 8,254 units a year earlier, the company said in a statement.

Exports more than quintupled to 3,854 units last month from 711 a year ago, but domestic sales fell 35 percent to 4,956 units from 7,575 over the cited period, the statement said.

From January to May, its sales fell 19 percent to 31,660 units from 39,206 units a year earlier.

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 worsening financial status.

It filed for court receivership in December after failing to obtain approval for the rollover of 165 billion won ($148 million) of loans from creditors. (Yonhap)