Ssangyong Motor, 84,496 Units Sold in 2021... 21.3% Decrease YoY

Impact of Semiconductor Supply Shortage and Rehabilitation Procedures... Clear Recovery Trend Emerging in the Second Half of the Year

[Asia Economy Reporter Yu Je-hoon] SsangYong Motor announced on the 3rd that its cumulative sales last year amounted to 84,496 units. This represents a 21.3% decrease compared to 2020.

According to SsangYong Motor, domestic sales amounted to 56,363 units, down 35.9% from the previous year. By model, sales were as follows: Rexton Sports 25,918 units, Tivoli 16,535 units, Korando 8,468 units, and Rexton 5,547 units.

Exports increased by 44.1% to 28,133 units. By model, Korando recorded the highest sales with 8,128 units, a 14.2% increase from the previous year, followed by Rexton Sports with 8,046 units, up 68.3% year-on-year. SsangYong’s first electric vehicle model, the Korando e-Motion, sold 229 units.

The direct causes of SsangYong Motor’s sluggish sales were the rehabilitation process and semiconductor supply shortages. These led to production disruptions, resulting in an overall decline in sales volume.

However, SsangYong Motor explained that sales recovery has recently become evident. The company stated, "By securing semiconductor supplies through cooperation with parts suppliers and operating production lines efficiently, we have partially resolved backlog inventory, recording sales growth for four consecutive quarters, and achieved the highest quarterly performance in the last quarter. Currently, we are still fully committed to expanding production by conducting special shifts and overtime across all lines to clear the backlog of deliveries for models such as the The New Rexton & Sports Khan."