SsangYong Motor Q1 losses pass 34B won as demand drops

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SsangYong Motor Q1 losses pass 34B won as demand drops

SsangYong Motor said Friday its net losses deepened in the first quarter due to a sharp decline in demand.

Net losses widened to 34.24 billion won ($32 million) for the three months ending March 31 from 13.93 billion won a year earlier, the company said in a statement.

Operating losses also grew to 31.26 billion won in the first quarter from 15.49 billion won the previous year. Sales rose 2.54 percent to 808.77 billion won from 788.72 billion won.


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