Ssangyong Motors, the South Korean subsidiary of the India’s based leading utility vehicle maker Mahindra & Mahindra is likely to miss this year’s sales target. The major factor behind the slower sales of Ssangyong is the continuous slowdown in sales in the European markets due to Debt woes. However, despite this short fall in sales, Ssangyong is expected to perform much better as compared to the sales in previous year, with an expected growth of 40 percent year on year.
In a statement given to ET, Mr. Pawan Goenka, president-automotive at M&M, said, "With some of the key markets for Ssangyong going through difficult times and the tsunami in Japan in early part of 2011 which disrupted supply, Ssangyong will probably sell around 1,13,000 to 1,14,000 units in 2011 as against our expectations of 1,20,000 units."
In year 2012, the company is looking forward to boost its sales volumes by expanding its foot prints in the emerging auto markets like China Russia and India. The firm aims to sell 1,60,000 units of its vehicles in year 2013, and plans to increase the sales volume to 3,00,000 units by 2015-16.
Meanwhile, Mahindra & Mahindra is all set to showcase a number of Ssangyong’s global portfolio vehicles at the Delhi Auto Expo 2012 including Ssangyong Rexton SUV and Korando crossover.
