SsangYong Motor Co. said Tuesday it is aiming to sell 20,000 units of the G4 Rexton sport utility vehicle (SUV) this year in the domestic market.

"We expect the G4 Rexton SUV will boost our bottom line in coming quarters as our Tivoli crossover helped us turn around last year," SsangYong Motor officials said in a press conference. 

SsangYong Motor unveiled the new SUV during the Seoul Motor Show held last month near Seoul. Parent Mahindra Group Chairman Anand Mahindra said he was "confident it will be a game changer for SsangYong in the medium to large SUV market." He said Tivoli was a defining model for the company in the compact SUV sector.

It has invested 380 billion won ($337 million) in the past three and a half years to develop the all-wheel drive, body-on-frame type SUV equipped with Mercedes-Benz's seven-speed automatic transmission, the company said. 

As for the vehicle's overseas launch, the company is "planning to introduce the G4 Rexton in Europe, Southeast Asia and other global markets in the fourth quarter," SsangYong Motor Executive Managing Director Lee Soo-won told Yonhap News Agency after the press event.

On top of the five-seat G4 Rexton, the company plans to add the seven-seat G4 Rexton in the domestic market in the second half to offer customers more options to choose from, he said.

SsangYong aims to sell 30,000 G4 Rextons next year in the domestic market as it sees a growing demand for premium large-size SUVs in the domestic and global markets, the managing director said.
Mahindra & Mahindra owns a 72.85 percent stake in SsangYong Motor. It is the flagship affiliate of Mahindra Group, an $18 billion Indian conglomerate with businesses that range from the country's largest SUV maker to farm equipment and financial services.

The new SUV will be sold in the local market at a price range between 33.5 million won and 45.1 million won ($29,600-$39,800). (Yonhap)