Ssangyong Motor launches flagship sedan in China

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Ssangyong Motor launches flagship sedan in China

Ssangyong Motor, Korea’s smallest carmaker, announced yesterday the launch of its flagship luxury sedan for the first time in China as the company moves to expand into the world’s largest auto market.

The Chairman W, which is on display at the ninth annual Guangzhou International Motor Show, will officially go on sale today, the carmaker said.

The CW700 limousine features a 3.6-liter XGi3600 engine and carries a price tag of around 120 million won ($105,200), Ssangyong said, adding it is targeting sales of 150 units next year.

China saw about 500,000 high-end cars sold last year. Market experts expect the size of the segment could easily double in the next five years.

The company hopes to see the Chinese market account for 20 percent of exports by 2013, up from 7 percent now.

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