Ssangyong Motor

SEOUL, Jan. 9 (Yonhap) -- SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., on Tuesday launched a new sport utility vehicle to better capitalize on rising demand for SUVs. 

The SUV-focused carmaker aims to sell 30,000 Rexton Sports models, or 2,500 units a month, in the domestic market this year, SsangYong Motor President Choi Jong-sik said in a press conference. 

The 2.2-liter diesel-powered Rexton Sports SUV is domestically available from Tuesday, with a price tag of 23.5 million-30.9 million won (US$22,000-$29,000), the company said in a statement. 

The all-new Rexton Sports shares the same platform with the G4 Rexton SUV flagship model launched last year. 

For all of 2017, the maker of the Rexton and Tivoli SUVs sold a combined 143,685 vehicles, down 7.7 percent from 155,754 a year earlier, the company said. 

Indian carmaker Mahindra & Mahindra Ltd. owns a 72.85-percent stake in SsangYong Motor. 

SsangYong Motor's Rexton Sports SUV (Yonhap)

kyongae.choi@yna.co.kr