M&M’s arm SsangYong Motor sells 12,415 units in November 2015

Mahindra & Mahindra Ltd. | Automobiles - Passenger Cars | Automobiles | BSE: 500520 | NSE: M&M

03 Dec 2015 Evaluate

Mahindra and Mahindra’s (M&M) South Korean subsidiary SsangYong Motor has sold a total of 12,415 units in November 2015 - 9,062 units in domestic sales and 3,353 in exports. Its November sales surged 21.5% from a year earlier, the highest year-on-year growth, largely resulting from the robust sales of the Tivoli.

The company’s cumulative sales from January to November 2015, recorded a 1.2% rise compared to the same period last year. In the domestic market, its sales showed an upward trend with the highest growth among the automotive manufacturers. Its domestic sales in November jumped 56.1% from the previous year, and 45.3% on an accumulated basis compared to the same period last year.

Ssangyong’s year-to-date exports through November plunged 38.6% over the last year, even though its exports to the European market rose by 70% year-on-year thanks to the successful launches of the Tivoli diesel and 4WD Tivoli.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.