April 18, 2024

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[THE INVESTOR] Ssangyong Motor sold its 100,000th Tivoli on home ground in the shortest span of time than any other brand it has launched, the company said on Dec.20.

Tivoli, released in early 2015, is SsangYong’s first vehicle since Indian conglomerate Mahindra Group acquired the South Korean carmaker in 2011.

The compact sports utility vehicle has been leading the market segment since its release last year. As of November this year, the sales of Tivoli surged 28.9 percent compared to last year, the company said.

 

A SsangYong sales executive poses with the owner of the 100,000th Tivoli in the carmaker‘s branch in Balsan Seoul, on Dec.19. SsangYong Motor

SsangYong also expects to see a continuous growth in its Tivoli sales next year with its new 2017 version released in September. The latest model adopted Advanced Driver Assistance System to enhance its performance.

Led by Tivoli’s rapid sales growth, SsangYong Motor is expecting a turnaround for the first time in nine years. In the third quarter, the carmaker saw a 23 billion won ($19 million) profit.

By Cho Chung-un/The Korea Herald (christory@heraldcorp.com)