Mahindra to sell 120,000 SsangYong cars globally this year
June 22nd, 2011 - 10:36 pm ICT by IANSKolkata, June 22 (IANS) Automobile major Mahindra and Mahindra Ltd is aiming to sell 120,000 South Korean SsangYong cars globally this year, the company said Wednesday.
“We are aiming to sell 120,000 SsangYong cars globally this year. About 55 percent of this will be sold outside (South) Korea and the remaining will be sold in (South) Korea. Last year 82,000 cars were sold,” Mahindra and Mahindra president, automotive and farm equipment sectors, Pawan Goenka told reporters here.
Mahindra and Mahindra acquired the South Korean automobile manufacturer SsangYong Motor in February.
Goenka said the company will launch five new cars in India.
“We will launch five new cars in the country this year. Two cars of SsangYong - Rexton and Korando C, one SUV (sport utility vehicle) and one electric car will be launched,” he said.
He said the company would increase prices of cars later this year to minimise pressure on profit margin.
Industry growth in India would be slower this year than the last year due to macroeconomic factors, he said.
“We are expecting that this year automotive and tractor sectors will grow at the rate of 15 percent and 12 percent, respectively,” he added.
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- Mahindra to launch SsangYong SUVs by next year - Sep 05, 2011
- Mahindra to launch more new vehicles next fiscal - Jan 10, 2012
- `Mahindras to seal deal with Ssangyong by early next year' - Nov 11, 2010
- Mahindra chosen preferred bidder for Ssangyong Motors (Lead) - Aug 12, 2010
- Mahindra may delay XUV500 export to meet local demand - Oct 08, 2011
- Mahindra inks pact to acquire Ssangyong Motors - Aug 23, 2010
- Ruia Group to decide on SsangYong bid in three days - Aug 05, 2010
- Ruia Group to bid for SsangYong Motor by Aug 10 - Jul 21, 2010
- India's Mahindras may acquire Korea's Ssangyong next year (Lead) - Nov 11, 2010
- Mahindra launches premium sports utility vehicle XUV500 - Sep 29, 2011
- Mahindra eyeing African market for new SUV - Sep 29, 2011
- Mahindra to acquire Renault's stake in Indian car venture - Apr 16, 2010
Tags: automobile manufacturer, electric car, goenka, India, korando, macroeconomic factors, mahindra and mahindra, mahindra and mahindra ltd, new cars, profit margin, sectors, south korea, south korean, sport utility vehicle, ssangyong cars, ssangyong motor, ssangyong rexton, two cars