Ssangyong Motor, January Sales Down 33% Year-on-Year... Impact of End of Individual Consumption Tax Cut

[Asia Economy Reporter Suyeon Woo] Ssangyong Motor announced on the 3rd that it sold a total of 7,653 units in the global market this January, including 5,557 units domestically and 2,096 units exported.

This performance represents a 33% decrease compared to the same month last year, due to the overall downturn in the automobile market, the end of the domestic individual consumption tax reduction, and a reduced number of working days caused by the Lunar New Year holiday.

Domestic sales also showed an overall decline compared to the same month last year, down 36.8%, due to seasonal off-peak factors and worsened market conditions such as weakened consumer sentiment following the end of tax incentives. Exports similarly decreased by 20.4% year-on-year, continuing the impact of previous sales declines.

G4 Rexton

Despite the sluggish domestic automobile market last year, Ssangyong Motor achieved domestic sales of 100,000 units for four consecutive years, and plans to continue the recovery of domestic sales this year through aggressive sales strategies such as customer service and customized events.

Additionally, with the Korando gasoline and M/T models having been introduced at the Brussels Motor Show last January and ongoing regional launches overseas, the company stated it will expand export volumes by strengthening various global marketing activities.

In particular, Ssangyong Motor emphasized that although sales declines have widened compared to the previous year due to overlapping seasonal and market factors, it will quickly recover sales through structural improvements to enhance competitiveness and the realization of global cooperation plans for future responses.

This content was produced with the assistance of AI translation services.