Mahindra & Mahindra, the largest utility vehicle maker in the Indian market, said on Wednesday that it aims to sell 1,20,000 units of its Korean subsidiary SsangYong, in the global market in year 2011. It is to be mentioned here that Mahindra & Mahindra had acquired SsangYong Motor in February this year.
Speaking to reporters in Kolkata, Mahindra and Mahindra president, automotive and farm equipment sectors, Pawan Goenka said, "We are aiming to sell 120,000 SsangYong cars globally this year. About 55 percent of this will be sold outside South Korea and the remaining will be sold in Korea. Last year 82,000 cars were sold."
The company plans to launch as many as five new car models in the Indian market in current year. The SsangYong models that are expected to hit the Indian roads this year include sports utility vehicles (SUV’s) like Rexton and Korando C, and an electric car. The company plans to increase the price of its portfolio cars later this year.
Mr. Goenka said that the company is expecting that this year automotive and tractor sectors will grow at the rate of 15 percent and 12 percent, respectively.
