Ssangyong Motor Co., the Korean carmaker under bankruptcy protection, posted its seventh consecutive quarterly loss after fired workers occupied a plant, paralyzing production for more than two months.
Net loss totaled 177.1 billion won ($144 million) in the three months ended in June, widening from a 35.7 billion won loss a year earlier, the Pyeongtaek, Korea-based company said in a regulatory filing yesterday. Sales tumbled 66 percent to 221.7 billion won.
Ssangyong's output plunged 74 percent in the second quarter after fired workers prevented production for 77 days. The company, which entered bankruptcy protection in February after Chinese parent SAIC Motor Corp. and the South Korean government rejected a bailout, resumed making vehicles yesterday.
