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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 ![NDTV Profit](/icons/feather-without-circle.svg)
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![Anand Mahindra, chairman of Mahindra & Mahindra Ltd., right, stands for photographs next to a Ssangyong Motor Co. G4 Rexton sport-utility vehicle. (Photographer: SeongJoon Cho/Bloomberg)](https://media.assettype.com/bloombergquint%2F2017-11%2F20b25431-757b-4cc3-ba03-e5674a3009f5%2F311757686_1-6.jpg?rect=0%2C0%2C4000%2C2250&auto=format%2Ccompress&w=200)
Anand Mahindra, chairman of Mahindra & Mahindra Ltd., right, stands for photographs next to a Ssangyong Motor Co. G4 Rexton sport-utility vehicle. (Photographer: SeongJoon Cho/Bloomberg)
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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