Korea’s SsangYong enjoys soar in car export to Iran

Business Materials 14 December 2016 19:30 (UTC +04:00)

Baku, Azerbaijan, Dec. 14

By Fatih Karimov – Trend:

South Korean car manufacturer SsangYong Motor exported 6,823 sedans to Iran during the first 11 months of 2016, the company announced.

The figure which indicates a sevenfold increase year-on-year is expected to reach 8,000 units this year.

In particular, the exports of Tivoli models to the Iranian market were at 1,337 units, showing a huge rise of 94.7 percent over November 2015.

These figures indicate the largest ever monthly sales of SsangYong Tivoli cars to a single market.

SsangYong Motor is the fourth largest South Korea-based automobile manufacturer. It is a subsidiary of Indian multinational Mahindra & Mahindra Limited.

Iran imported over 41,597 sedans, worth $1.086 billion during the first eight months of the current fiscal year (March 20-Nov. 21, 2016), indicating a rise by 56 percent year-on-year in terms of volume.

Tehran imported 93 percent of total sedan cars from five countries – the UAE (30,474), South Korea (5,559), Spain (1,057), Germany (959) and Turkey (883).