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Ssangyong Fails To Make M&M A Global SUV Maker
Mahindra & Mahindra is looking to sell its South Korean subsidiary SsangYong Motor Co. But why?
02 Sep 2020, 08:15 PM IST
When Mahindra & Mahindra Ltd. acquired troubled SsangYong Motor Co. nearly a decade ago, it wanted to become a global utility vehicle maker. That didn't go as planned.M&M’s market share in India's utility vehicle market has since fallen by half, and SsangYong accounts for less than 5% of the vehicles sold in its home market of South Korea. Losses and capital spent to turn around SsangYong soared. After repeated attempts failed to rev...
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