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South Korean automaker SsangYong signs an export deal with a UAE firm

SsangYong Motor Co., a South Korean SUV manufacturer, recently announced that it has secured an agreement to export 7,000 vehicles to a firm in the United Arab Emirates this year.

SsangYong Motor inked the export agreement with Neweast General Trade Zafza (NGT) in January and promised to increase the amount to 10,000 units later, according to the firm.

Earlier, SsangYong agreed to sell around 170,000 automobiles to Saudi National Automobiles Manufacturing Co. (SNAM) in the form of partial knockdown (KD) units during a seven-year period beginning in 2023.

In 2022, its car sales increased by 35% to 113,660 units, up from 84,106 in the previous year. Exports contributed for 40 percent of total sales, or 45,294 units.

Exports to Saudi Arabia, Iraq, Israel, and other Middle Eastern nations totaled 3,819 units.

SsangYong's SUV portfolio includes the Tivoli, Korando, Rexton, Rexton Sports, and Torres models.

To get its business back on track, the corporation plans to increase its exports to emerging regions this year.

Source :
Posted on :3/8/2023