The South Korean SUV manufacturer, owned by Mahindra & Mahindra, revealed at the Geneva Motor Show that it intends to rebrand itself and will try and complete the rebranding process by 2017 – ahead of its planned entry into the US.
Ssangyong, it seems, wants to let go of all the negativity it has been surrounded with in the past. In the beginning of the year, the South Korean company had announced its plans to increase its sales by 2016. As part of their ambitious plan, the company aims to sell 300,000 units per annum by 2016. Even at the Geneva Motor Show 2014, the company took adequate steps in this direction.
A spokesman is reported to have said that a new brand, together with a new emblem, would replace the 30 year old brand after consultations with domestic and overseas staff, as well as the public. The Mahindra name would not be part of the new brand, the spokesman also confirmed.
The company, which is currently also undergoing a product overhaul, reported a 21 per cent increase in global vehicle sales last year to 145,649 units, including 63,970 units in its home market and 81,679 units overseas.
The name changing business is not new to Ssangyong. The original name for SsangYong Motor Company was Ha Dong-hwan, it started back in 1954. The company changed its name yet again in 1977 when it became the Donga Motor Co., Ltd. The name SsangYong, which actually means “twin dragons” was adopted in 1988.
In 2010, Mahindra and Mahindra invested heavily in the Ssangyong business leading it to becoming a wholly owned subsidiary of Mahindra. In India, Mahindra launched the Ssangyong Rexton in 2012, and it continues to be the only Ssangyong product in the country.
With this rebranding Ssangyong is aiming to find its footing in the car market and come out of the shadow of Mahindra.