South Korean carmaker Ssangyong Motor has said it will begin exports to China again in August this year and has an annual target of between 30,000 and 50,000 vehicles by 2013. The company said it intends to become the number one imported brand in China’s SUV market and has signed distribution contracts with Pang Da Automobile Trade and SCAS Investment Group to increase its dealership network to 150 in the country.
Ssangyong Motor recently held a signing ceremony at its Pyeongtaek plant where management of three companies participated including president Pang Qinghua of Pang Da Automobile Trade and president Chen Wenpei of SCAS Investment Group.
“The signing of the sales contract with our Chinese partners laid a new ground for returning to Chinese market, following our present core markets of Russia and Latin America,” said Ssangyong’s president and CEO, Lee Yoo-il. “With close cooperation with our Chinese partners, we will expand the export volume and make China Ssangyong’s strategic platform for export,” he added.
Pang Da is reported to be the largest automobile sales group within the country with sales record of 470,000 units in 2010.
Ssangyong’s export plans are an ambitious increase on its past exports, which from 2005 to 2010 amounted to just 16,000 units.
Last year Indian carmaker Mahindra and Mahindra made a successful bid for a 70% controlling stake in Ssangyong and in March took full management of the company by for $463m. Mahindra is bringing Ssangyong’s Rexton and Korando SUVs to India as CKD units.
As reported in February this year Ssangyong Motor is also planning to re-enter the German market with assembly at a new facility in Kerpen, Germany and is working with Belgian-based importer Alcadis for the movement of vehicles to a planned 150-strong dealer network, which it hopes to build up by the end of 2012.