Ssangyong to bring 4 new cars by 2016

Ssangyong Motor Co., a part of the $12.5 billion Mahindra Group, has announced its new vision to become the “most innovative and respected Korean automotive company”. On Wednesday Ssangyong Motors said in Pyeongtaek City, Korea that it will launch four new models by 2016 and five facelifts by 2013 to boost sales across the world. Lee Yoo-il Chief Executive Officer at Ssangyong Motor along with Ssangyong Chairman Pawan Goenka unveiled Ssangyong's new vision and five-year business strategy. Ssangyong Motors, the fourth largest South Korean automobile manufacturer is aiming to sell 1.6 lakh units by 2013 and 3 lakh units by 2016.

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The company will launch five facelift models by 2013 and four completely new cars by 2016. Ssangyong Motor is targeting a 20 per cent market share in participating segments in Korea. The company is seeking a way to establish a domestic hire-purchase finance company to be able to provide one-stop financial solution to the customers there. Ssangyong has set up its mid- to long-term business goals for 2013 as “Promise 2013”, under which it aims to sell 1.60 lakh vehicles by 2013 reserving revenues of Rs.16,500 crore. The company also announced 'Aspiration 2016', under which it plans to sell 3,00,000 vehicles acquiring revenues of Rs 29,100 crore by 2016". Ssangyong will use Mahindra's existing network in South Africa by March 2012 in order to expand its overseas sales network and advance into fast-growing emerging markets.

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Lee Yoo-il place immense confidence in the new vision of the company by saying that the goal they have set may be challenging, but given the tenacity and determination of the Ssangyong team he was sure of achieving it. SsangYong, along with Mahindra's assistance, will also move to local manufacture of its vehicles in India and Egypt. Dr. Pawan Goenka said that Ssangyong has taken a giant step in the march towards reclaiming company’s rightful place as a key player in the global automotive community. The auto-maker is further thinking of developing and launching electric vehicles. Ssangyong had made an official announcement regarding the launch of two of their concept SUV cars in India- Rexton II and Korando during the 2011 Frankfurt Motor show.

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