April 25, 2024
Automobiles
SsangYong Motor’s net loss deepens in Q1
[THE INVESTOR] SsangYong Motor said on April 20 its net loss deepened in the first quarter due to a sharp decline in demand for its vehicles.
Its net loss widened to 34.24 billion won (US$320 million) for the three months ending March 31 from 13.93 billion won a year earlier, the company said in a statement.
Operating losses also grew to 31.26 billion won in the first quarter from 15.49 billion won the previous year. Sales rose 2.54 percent to 808.77 billion won from 788.72 billion won over the same period, it said.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
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