Ssangyong Motor sales soar 23% in March

Ssangyong Motor Co., the local unit of Indian sport utility vehicle maker Mahindra & Mahindra, said Tuesday that its sales soared 23 percent on-year in March on the strength of consumer demand for its popular Korando family of rugged off-road vehicles.

The carmaker's total sales hit 13,232 units last month compared with 10,761 vehicles sold a year earlier. Domestic sales reached 5,850 units, a 18.8 percent increase from the same one-month period in 2013. Exports, including knockdown kits, were tallied at 7,382 vehicles, a 26.5 percent increase from figures released for the third month of last year.

"Sales were bolstered by demand for the Korando family brand of sport utility vehicles, including the Korando Sports, as well as the larger Rexton W," the company said in a press release. It said sales of its vehicles did well in Russia, China and Europe.

The carmaker said strong sales of its Korando C contributed to Ssangyong selling 3,971 units in the European market in the first quarter. This represents a surge of 68.5 percent from 2,357 cars sold a year earlier.

The company, the fourth-largest original equipment car manufacturer in South Korea, said it aims to sell some 91,000 cars overseas this year.

If sales grow in 2014, it would mark the fifth year in a row for Ssangyong to sell more cars on an annual basis. (Yonhap)