Ssangyong Motor Remains in the Red
Ssangyong Motor Remains in the Red
  • By Lee Kyung-ho (info@koreaittimes.com)
  • 승인 2015.07.24 10:39
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Ssangyong Motor remained in the red in the first half of this year when it posted an operating loss of 54.1 billion won. The company announced on July 23 that it registered an operating loss of 54.1 billion won, a net loss of 53.9 billion won, and sales revenue of 1.59 trillion won for the first half of this year.

Despite an increase in domestic sales, its sales and revenue both fell 6.0 percent and 7.7 percent, respectively, in the first half of this year, due to a decline in exports. Backed by robust Tivoli sales, however, the company marked a 12.1-percent growth in sales and 9.9-percent growth in sales revenue in the second quarter of this year compared to a quarter ago. The operating loss also declined by 41.8 percent to 19.9 billion won.

Ssangyong Motor sold 69,800 cars in and outside Korea in the January-June period of this year. At home, its sales rose 36.6 percent to 45,410 units, the highest since 2004. In contrast, its overseas sales plunged 40.5 percent to 24,390 units (including complete knockdown kits) due to sluggish demand from emerging markets, including Russia and the deterioration of export environment, including the weak euro.


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