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| ▲ This file photo provided by SsangYong Motor shows its first all-electric model Korando e-Motion SUV. (PHOTO NOT FOR SALE) (Yonhap) |
SsangYong Motor-Jan sales
SsangYong's Jan. sales fall 13 pct amid chip shortage
SEOUL, Feb. 4 (Yonhap) -- SsangYong Motor Co. said Friday its sales fell 13 percent last month from a year earlier as a prolonged chip shortage continued to affect its vehicle production.
SsangYong Motor sold 7,540 vehicles in January, down from 8,648 units a year earlier, the company said in a statement.
Domestic sales declined 14 percent to 4,836 units last month from 5,648 a year ago, while exports were down 8.8 percent to 2,764 units from 3,030 during the same period, it said.
For the whole of 2021, SsangYong's net losses narrowed to 292.9 billion won (US$245 million) in 2021 from 504.34 billion won a year earlier on companywide drastic cost-cutting efforts.
Its vehicle sales fell 22 percent to 84,106 units from 107,324 in the same time frame amid the pandemic and chip shortages.
SsangYong's lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.
On Friday, it added the first all-electric model, the Korando e-Motion subcompact SUV, to the lineup to boost sales in the domestic market.
SsangYong was placed under court receivership in April last year for the second time after undergoing the same process a decade earlier. Its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor due to the COVID-19 pandemic and its worsening financial status.
On Jan. 10, the consortium led by local electric carmaker Edison Motors Co. signed a final deal with SsangYong to take over the debt-laden carmaker.
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