Ssangyong Motor sales up 8.2% on-year in July

Ssangyong Motor Co., the local unit of Indian auto giant Mahindra & Mahindra Ltd., on Monday said its sales grew 8.2 percent from a year earlier in July, with a surge in exports more than offsetting a drop in domestic sales.

The automaker sold 12,784 cars globally last month, compared with 11,813 vehicles sold in the same month last year.

Domestic sales slipped 8.1 percent on-year to 7,546, which also marked a 22.6 percent plunge from the previous month.

Exports, on the other hand, spiked 45.3 percent on-year to 5,238 units.

"July exports posted a record high this year, jumping 45.3 percent compared to the same month last year, helped by increased sales to the European market," the company said in a press release, attributing the increased sales in Europe to the global launch of its new midsize SUV, the Tivoli Air.

July also marked the first time in 16 months the company's overseas shipments exceeded 5,000 cars, it added.

In the first seven months of the year, Ssangyong's overall sales gained 7.2 percent on-year to 87,271, with 58,242 cars sold in the local market and 29,119 cars shipped overseas over the cited period, posting an 8.6 percent and 4 percent on-year increase, respectively. (Yonhap)