SEOUL, Dec. 1 (Yonhap) — SsangYong Motor Co. said Wednesday its sales fell 26 percent last month from a year earlier amid a prolonged chip shortage.
SsangYong Motor sold 8,748 vehicles in November, down from 11,859 units a year earlier, the company said in a statement.
Domestic sales declined 32 percent to 6,277 units last month from 9,270 a year ago, while exports were down 3.4 percent to 2,501 units from 2,589 during the same period, it said.
From January to November, its sales fell 3.4 percent to 75,351 autos from 96,763 during the same period of last year.
SsangYong Motor’s lineup consists of the Tivoli, Korando, Rexton and Rexton Sports SUVs.
The SUV-focused carmaker has been in a debt-rescheduling process since April 15 as its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor amid the prolonged COVID-19 pandemic and its worsening financial status.
It filed for court receivership in December 2020 after failing to obtain approval for the rollover of 165 billion won (US$148 million) of loans from creditors.
SsangYong and its lead manager, the EY Hanyoung accounting firm, recently selected a local consortium led by Edison Motors Co. as the preferred bidder for the debt-laden carmaker.