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SsangYong Motor Co. said Monday its sales fell 17 percent last month from a year earlier as a prolonged chip shortage continued to affect its vehicle production.
SsangYong Motor sold 8,755 vehicles in December, down from 10,561 units a year earlier, the company said in a statement.
Domestic sales declined 31 percent to 5,810 units last month from 8,449 a year ago, while exports climbed 39 percent to 2,975 units from 2,142 during the same period, it said.
For the whole of 2021, its sales dipped 22 percent to 84,106 autos from 107,324 in 2020.
SsangYong Motor's lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.
The SUV-focused carmaker has been in a debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor amid the prolonged COVID-19 pandemic and its worsening financial status.
It filed for court receivership in December 2020 after failing to obtain approval for the rollover of 165 billion won ($148 million) of loans from creditors.
SsangYong and its lead manager, EY Hanyoung accounting firm, recently selected a local consortium led by Edison Motors Co. as the preferred bidder for the debt-laden carmaker. (Yonhap)
SsangYong Motor sold 8,755 vehicles in December, down from 10,561 units a year earlier, the company said in a statement.
Domestic sales declined 31 percent to 5,810 units last month from 8,449 a year ago, while exports climbed 39 percent to 2,975 units from 2,142 during the same period, it said.
For the whole of 2021, its sales dipped 22 percent to 84,106 autos from 107,324 in 2020.
SsangYong Motor's lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.
The SUV-focused carmaker has been in a debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor amid the prolonged COVID-19 pandemic and its worsening financial status.
It filed for court receivership in December 2020 after failing to obtain approval for the rollover of 165 billion won ($148 million) of loans from creditors.
SsangYong and its lead manager, EY Hanyoung accounting firm, recently selected a local consortium led by Edison Motors Co. as the preferred bidder for the debt-laden carmaker. (Yonhap)
