Mahindra & Mahindra, the largest utility vehicle maker in the Indian auto market, is looking forward to boost the sales of its South Korean subsidiary Ssangyong by increasing its foot prints in the emerging markets like India.
The assembly operations of the Ssangyong’s India portfolio vehicles will be commenced in the second half of this year, at the Chakan plant of Mahindra & Mahindra. Moreover, the company is looking forward to target markets like Russia, Brazil and China, so that the sales volumes of the newly acquired subsidiary Ssangyong can be increased considerably.
In a statement given to ET, Yoo II Lee, president & CEO of Ssangyong Motor, said, "Russia is a big market for-Ssangyong with over 22,000 units exported annually. With the change in the import duty regulation by the Russian government, we need our plant there by 2013. “He added that other markets are China and Brazil, which can prove to be real big for us in future.
At present, Ssangyong exports its SUV models to over 40 countries of the world and exports account for over 65 percent of the company’s sales in year 2011, which stood at 1,13,000 units. The firm is aiming to sell 1,23,000 units of its vehicles in 2012.
