Ssangyong Motor

Ssangyong Motor Co., which has usually relied on domestic sales to keep itself afloat, is now shifting focus and making sojourns into foreign markets. The company got a shot in the arm from rave reviews of its new sport-utility vehicle, the Kyron, at the 61st Frankfurt International Motor Show, which opened Monday. It also plans to enter the Chinese market through its parent company, Shanghai Automotive Industry Corp.

In 2004, exports accounted for only 28 percent of the company's sales. This year, nearly half of the firm's sales in the first eight months of the year came from exports, and Ssangyong's domestic sales from January to August this year dropped 35 percent from its sales last year.

The company has taken notice: it expects that for the first time in its history its exports will account for more than half of its entire annual sales, and plans to increase its market presence to more than 100 countries from the current 90. Ssangyong currently exports to 16 countries in Western Europe, accounting for 45 percent of its total exports.

Add in Eastern Europe, and Ssangyong relies on the European market for 65 percent of its exports. Ssangyong's signature sport-utility vehicle, the New Rexton, is selling well in Germany, France, England and Spain, and the Korean's company's market shares for the vehicle type in those countries are rising fast. The New Rexton, which accounts for 60 percent of Ssangyong's exports, costs about 20 percent more than its rivals, but is said to be roomier. Another sport-utility vehicle, the Kyron is making up for it overseas. Its 2-liter (half-gallon) diesel model was unveiled at the Frankfurt exhibition to excellent reviews, and Ssangyong was bombarded with advance orders.

The company said it is planning to export 2,000 Kyrons a month starting late this month. A spokesman for the company said the diesel engine, which he said was environmentally friendly, might explain the model's appeal to European drivers. ....

 - Source from JoongAng Daily (Oct 04, 2005) -