Ssangyong Motor

SEOUL, Sept. 1 (Yonhap) -- SsangYong Motor Co. said Friday its August sales fell 3.7 percent from a year earlier on sluggish exports. 

The South Korean unit of Indian carmaker Mahindra & Mahindra Ltd. sold 11,725 vehicles in August, down from 12,178 units a year earlier, the carmaker said in a statement. 

Domestic sales rose 7.5 percent to 8,255 units last month from 7,676 units a year earlier. But exports plunged 23 percent to 3,470 cars from 4,502, the statement said. 

In the January-August period, the maker of the Rexton and Tivoli SUVs sold a combined 93,483, down 6.1 percent on-year from 99,539, it said. 

Mahindra & Mahindra owns a 72.85 percent stake in SsangYong Motor. It is one of the flagship affiliates of Mahindra Group, an US$18 billion Indian conglomerate with businesses that range from the country's largest SUV maker to farm equipment and financial services. 

kyongae.choi@yna.co.kr