April 26, 2024

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[THE INVESTOR] SsangYong Motor said on Jan. 31 its net loss narrowed for the October-December period from a year earlier on a strengthened lineup.

It’s net loss reached 3.99 billion won (US$3.59 million) in the fourth quarter from 30.25 billion won a year ago, the company said in a statement.
 

Robust sales of the Rexton Sports SUV and the Tivoli SUV helped improve the bottom line, it said.

Operating loss stood at 3.48 billion won in the final quarter from 2.57 billion won a year ago. Sales rose 17 percent to 1.053 trillion won from 902.16 billion won during the same period.

For the whole of 2018, net loss slightly improved to 61.84 billion won from 65.82 billion won the previous year. Operating loss remained almost unchanged at 64.18 billion won compared with 5.28 billion won during the cited period. Sales gained 6 percent to 3.705 trillion won from 3.495 trillion won.

By Ram Garikipati and newswires (ram@heraldcorp.com)