[THE INVESTOR] SsangYong
Motor, currently No.1 in the local compact SUV market, unveiled the upgraded version of its popular Tivoli subcompact SUV on July 17.
The revamped SUV, named Tivoli Armour, will go on sale starting July 20, according to the firm. It comes in a 1.6-liter gasoline or diesel powertrain, underwent a design change accentuated by a more aggressive front bumper, chrome moldings and LED fog lamps.
Another attraction is the customized options. Customers can choose from a myriad of options, from the car’s exterior and interior designs, down to the decal on the hood and roof. Wheel types and the emblem design can also be designed based on preference.
|SsangYong Motor Tivoli Armour|
“Under the slogan, ‘My Only SUV,’ drivers can have a Tivoli that stands out, complete with handpicked features and designs,” said Lee Seok-woo, general manager of marketing team, at the unveiling event. “Tivoli will continue to evolve to meet customer demand and lead the market.”
The new car arrives as other carmakers are launching subcompact SUVs to take on Tivoli, which led the segment since its debut in 2015. Korea’s top automaker Hyundai Motor launched the Kona last month, while its sister firm Kia Motors has showcased the Stonic.
In 2016, Tivoli sold 56,935 units in Korea, claiming 54 percent market share in the subcompact SUV segment. But with the arrival of Kona and Stonic, that could change, according to industry watchers.
SsangYong, owned by Indian auto giant Mahindra & Mahindra, however, remains confident about Tivoli’s success, estimating sales to reach 60,000 units this year. The Tivoli Armour will be exported soon, but the exact time frame or destination has yet to be decided.
The car is expected to be priced from 16.51 million won (US$14,629) to 22.42 million won for the gasoline model, while diesel powertrain ranges from 20.60 million won to 24.20 million won.
By Ahn Sung-mi (firstname.lastname@example.org