SsangYong to Sell 32,000 Vehicles in 2009

Troubled Korean manufacturer SsangYong hasn't given up plans to continue production and sales of its vehicles, despite the bankruptcy it is going through and the recent civil war it had to face. The company, fresh out from the 77-day strike, set a new goal this year: sell 32,000 units.

How they will accomplish this it is unclear. In the first seven months of the year, SsangYong sold less than half that number: 13,000 vehicles. But both talk of a substantial government financial help and the apparent quick production recovery following the strike makes the company's management stay confident.

The loan has somewhat been confirmed by economy minister Lee Youn-ho, who was quoted by as saying the government is looking into providing additional financial support to SsangYong.

The emergency fund will be managed by state-controlled Small & Medium Business Corporation, a fund specialized in providing support to small- and medium-sized enterprises under temporary management problems. The money is to be used, according to the source, for the development of the C200, a model expected to be rolled out next year.

This report of a government funding comes as a piece of good news, as last week's rumors said the Koreans would not provide direct aid to the South Korean manufacturer until new investors are found.

SsangYong restarted production on August 11, after the riot cooled down. Korean police asked, as a result of the uprising, arrest warrants for 44 people who participated in the clashes, including 41 SsangYong workers "for having used violence and obstructed business or official duties."
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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