SEOUL, KOREA - Ssangyong Motor reported a higher loss despite the increase in car sales in the first half of this year. The company announced on July 23 that it posted sales of 1.72 trillion won for the first half of this year. During this period, it suffered an operating loss of 16.5 billion won and a net loss of 18.5 billion won.
Ssangyong Motor sold 74,235 units in the first half of this year, including domestic sales of 33,235 units and exports of 41,000 units. Thanks to bullish demand for SUVs and its flagship models, Ssangyong Motor marked a 6.9-percent growth in sales during the April-June period of this year.
Despite the growth in sales, it saw its profitability worsen due to negative foreign exchange movements, with its operating loss increasing about 15 percent compared to a year ago.Ssangyong Motor’s sales growth slowed in the second quarter after reaching 17.3 percent in the first quarter.
