SSANGYONG dealers have recived good news, after South Korean courts OK’d the firms’ restructuring.
The brand, which is currently in receivership, was deemed to be worth more as a going concern than in liquidation.
This means the go-ahead to work on full recovery plans have been approved.
These will be unveiled in September, but will be focused on model replacement.
New cars will include confirmation that the C200 compact SUV will go into production – possibly even by the end of the year.
Future SsangYongs will also encompass modern diesel and hybrid technology.
Paul Williams, MD of distributor Koelliker UK Ltd, said: ‘This is the news we were hoping for, and it means that SsangYong now has the lifeline it needs to implement major changes.
‘The future will continue to be difficult, as it is throughout the auto industry, but the result should mean a leaner, much more efficient SsangYong.
‘We already know that there will be a broader range of passenger cars, using the latest petrol, diesel and hybrid technology, and the first – the C200 – will go into production later this year.
‘Our dealers can now go forward with renewed confidence.’
DATED: 01.06.09
FEED: CDM
