Ssangyong Motor February Sales 13,992 Units Up 30%

SEOUL March 3, 2003; Dow Jones reported that South Korea's Ssangyong Motor Co. Monday said its February auto sales jumped 30% on year to 13,992 units.

It attributed the rise to continued robust local demand for its luxury sedan and the introduction of a new pickup truck model, Musso Sports.

Local sales climbed 34% to 13,142 units, while exports fell 7.6% to 850 units.

Domestic sales of its sole luxury sedan model, Chairman, soared 83% on year to 1,001 units in February. Local sales of Musso Sports, released in September, totaled 2,713 units, up 3.8% from January.

Ssangyong Motor said exports fell on bearish overseas consumer sentiment stemming from worries over a possible war on Iraq.

On month, February sales fell 4.2%, with local sales down 2.9% and exports down 20%.

Ssangyong Motor is the fourth largest car maker in South Korea, in terms of production capacity.