SsangYong Motor narrows loss in last quarter of 2018
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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.
Questions & Answers
Q.What contributed to the narrowing of SsangYong Motor's net losses in the fourth quarter of 2018?
What contributed to the narrowing of SsangYong Motor's net losses in the fourth quarter of 2018?
The company attributed the improved bottom line to a strengthened lineup. Robust sales of its Rexton Sports sport-utility vehicle and Tivoli SUV were specifically highlighted as contributing factors.
Q.Did SsangYong Motor's sales increase in the fourth quarter of 2018 compared to the previous year?
Did SsangYong Motor's sales increase in the fourth quarter of 2018 compared to the previous year?
Yes, sales for the October-December period rose by 17 percent to 1.053 trillion won. This was an increase from 902.16 billion won during the same period a year earlier.
Q.How did SsangYong Motor's operating losses change in the fourth quarter of 2018?
How did SsangYong Motor's operating losses change in the fourth quarter of 2018?
Operating losses for SsangYong Motor increased in the final quarter of 2018. They stood at 3.48 billion won, up from 2.57 billion won in the comparable period a year prior.
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