SSANG YONG Motor's business makes profits for the first time

Shanghai. August 16 (Gasgoo.com) - SSANG YONG Motor Company, a subsidiary of Shanghai Automotive Industrial Corporation, post profits 15.5 billion KRW ($16.39 million) in the first half year of 2007, according to SAIC.

This is the first time that SSANG YONG Motor turns makes profits since SAIC acquired SSANG YONG Motor Company in 2005.

SSANG YONG lost 12.3 billion KRW ($12.99 million) in the first half of 2006.

SSANG YONG Motor Company sold 69,755 units in the first half, up 13.2 percent year on year. Sales rose 4.7 percent in the South Korean market, while sales in overseas market grew 21 percent year on year.

SAIC acquired 51.1 percent share of SSANG YONG Motor Company from Cho Hung Bank in 2005.

SSANG YONG Motor Company's sales were 11,301 units in July, up 74.5 percent year on year.

SSANG YONG Motor Company's sales of entire e vehicles in Chinese market rose 300% in the first seven months, making China its No.1 overseas market.