SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Wednesday it has launched the Rexton Sports sport-utility vehicle in Latin American markets to boost sales.
SsangYong Motor launched the Rexton Sports SUV in Chile in September, Ecuador in October and Paraguay in November, following its launch in Europe in the second and third quarters, the company said in a statement.
In this photo taken on Sept. 25, 2018, SsangYong Motor`s Rexton Sports SUVs are displayed during a media launching event held in Chile. (Yonhap)
The SUV-focused carmaker plans to introduce the SUV model in Africa and Middle Eastern markets in the first half of 2019 as part of its market diversification strategy, it said.
From January through September, the maker of the flagship G4 Rexton and the Tivoli SUV posted deepened net losses to 57.85 billion won ($51 million) from 35.58 billion won in the year-ago period.
For the first nine months, it sold a total of 101,436 vehicles, down 4.9 percent from 106,651 a year earlier.
Mahindra & Mahindra owns a 72.85 percent stake in SsangYong Motor. (Yonhap)
