By IANS,
Kolkata: Automobile major Mahindra and Mahindra Ltd is aiming to sell 120,000 South Korean SsangYong cars globally this year, the company said Wednesday.
“We are aiming to sell 120,000 SsangYong cars globally this year. About 55 percent of this will be sold outside (South) Korea and the remaining will be sold in (South) Korea. Last year 82,000 cars were sold,” Mahindra and Mahindra president, automotive and farm equipment sectors, Pawan Goenka told reporters here.
Mahindra and Mahindra acquired the South Korean automobile manufacturer SsangYong Motor in February.
Goenka said the company will launch five new cars in India.
“We will launch five new cars in the country this year. Two cars of SsangYong – Rexton and Korando C, one SUV (sport utility vehicle) and one electric car will be launched,” he said.
He said the company would increase prices of cars later this year to minimise pressure on profit margin.
Industry growth in India would be slower this year than the last year due to macroeconomic factors, he said.
“We are expecting that this year automotive and tractor sectors will grow at the rate of 15 percent and 12 percent, respectively,” he added.