Local automobile dealer Super Seven Stars (SSS) Co Ltd has started selling Korean-made SsangYong Motor Co’s cars at a discounted price in Myanmar, the company said.
Customers will be able to purchase SsangYong’s cars at a discount of up to K8.5 million ($8,500), given the payment is settled in cash, SSS, SsangYong’s authorised dealer in Myanmar, said.
SsangYong’s Actyon Sports model is now being offered at $35,000, while the original price of Actyon Sports is K43.4 million ($43,500).
Purchasers can also go for three types of instalment-based payment system: They can pay half of the car price and pay the rest over a period of 12 months without any interest; or, choose to pay 30 percent of the car’s price in cash and the rest through 24 months with no interest; or, pay K1.8 million (1,800) every month for 24 months without any interest.
“One year insurance for the whole car will also be provided with the owner’s name,” SSS Director U Kyaw Thiha said. The cars are guaranteed for three years or 100,000 kilometres, he added.
Establsihed in 1954, SsangYong is the fourth largest South Korea-based automobile manufacturer.
In 1997, Daewoo Motors, now Tata Daewoo, bought a controlling stake from the SsangYong Group, only to sell it off again in 2000, because the conglomerate ran into deep financial troubles. In late 2004, the Chinese automobile manufacturer SAIC took a 51 percent stake of SsangYong Motor Co. In January 2009, after recording a $75.42 million loss due to global economic crisis and shrinking demand, the company was put into receivership.
A 70 percent share of SsangYong was acquired by Indian Mahindra & Mahindra Ltd for 522.5 billion won ($492.7 million) in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company.
SsangYong makes Chairman W model as its luxury brand, Rexton W, Kyron, Korando and Actyon as SUV, Actyon Sports as double cab and Rodius/Stavic as family car.
SsangYong’s production output in 2012 was 119,142 units, and the company garnered revenues of 2.874 trillion won ($2.7 billion) the same year. It’s main production base in South Korea, while it has factories in Ukraine and Russia.
Super Seven Stars Co became SsangYong’s exclusive dealer in Myanmar in 2012.