SsangYong Motor narrows loss in last quarter of 2018

Home > Business > Industry

print dictionary print

SsangYong Motor narrows loss in last quarter of 2018

SsangYong Motor, the Korean unit of Indian carmaker Mahindra & Mahindra, said Thursday its net losses narrowed for the October-December period from a year earlier on a strengthened lineup.

Net losses reached 3.99 billion won ($3.59 million) in the fourth quarter from 30.25 billion won a year ago, the company said in a statement.

Robust sales of the Rexton Sports sport-utility vehicle (SUV) and the Tivoli SUV helped improve the bottom line, it said.

Operating losses stood at 3.48 billion won in the final quarter from 2.57 billion won a year ago. Sales rose 17 percent to 1.053 trillion won from 902.16 billion won during the same period.

For 2018, net losses slightly improved to 61.84 billion won from 65.82 billion won the previous year. Operating losses remained almost unchanged at 64.18 billion won compared with 65.28 billion won.


Yonhap

More in Industry

Work at home is not as easy as it sounds, ministry says

Flying visit

[NEWS IN FOCUS] Spotify is still almost here, and seems to be getting closer

Korea Inc. calls on Suga to relax border restrictions

House-bound consumers awaken a sleeping industry

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now