November 10, 2022 11:21
Ssangyong is experiencing a sales revival thanks to the strong performance of its new Torres midsize SUV.
The Torres is expected to help the debt-laden carmaker get its business back on track just as the Tivoli small SUV did back in 2016.
An urgent capital injection by KG Group, the carmaker's new owner, is also raising hopes of a turnaround. KG took over Ssangyong, which was under court receivership, in June.
In October, Ssangyong sold 4,726 Torreses, accounting for 36 percent of its total sales of 13,186 cars for the month.
Since its launch in July, cumulative sales of the new SUV reached 15,800 by October.
Led by the Torres, Ssangyong's sales surpassed 10,000 cars for four consecutive months with the year's cumulative figure until October amounting to 93,644. At this rate, it is expected to sell 120,000 cars in total this year, the highest since 2019 when it sold 132,799.
Ssangyong says it needs annual sales of more than 150,000 cars to turn its business around, and it is likely to achieve that next year if the current performance continues.
The Torres is touted as embodying the automaker's signature design highlighting toughness and an adventurous spirit, as shown in the Musso, a popular early Ssangyong SUV that is now out of production.
It generates a maximum of 170 horsepower with a 1.5-liter turbo gasoline engine, and the trunk capacity is larger than other midsize SUVs in its class. Prices range from W24.3 million to W30.2 million depending on the trim (US$1=W1,365).
Its relatively good value is another draw, as many people are looking to buy more cost-effective cars amid the weakening economy.
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