SsangYong chairman Yoo Lee talks about expansion plans in U.S., Europe

Article by Christian A., on March 7, 2011

As part of plans to expand globally, Korean automaker SsangYong is preparing to launch sales in the U.S. In an interview with Automotive News Europe, company chairman Yoo Lee said that Europe is expected to be SsangYong’s largest export market in 2011.

Lee said that SsangYong seeks to sell 120,000 units worldwide in 2011 and expects volume to double to 240,000 in two to three years. Lee said that Europe will be SsangYong's largest export market in 2011 with estimated 15,000 sales.

Lee said that its long term goal for Europe is to sell over 30,000 units. SsangYong's largest European markets are Spain, Germany, Benelux, Switzerland and France. In Europe, SsangYong has 800 dealers and 18 distributors but wants to expand this network to more than 1,000 dealers.

Lee said that the company aims to arrive at the U.S. market within five years, explaining that the company needs time to meet the strict emission and safety regulations.

Lee said that SsangYong expects a sales potential of up to 20,000 units annually in the U.S. upon entering the market within two to three years – or five years at the latest.

SsangYong will continue to focus on its SUV products. SsangYong’s SUT1 sport utility truck, which was seen in the 2011 Geneva Auto Show in concept form, will be introduced in Europe and other markets in 2012. [via autonews]

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Topics: ssangyong



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