Plex
Zorce Jedi Master
Joined: 01 May 2005
Posts: 9039
Location: T&T
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 Posted: Sat Dec 29, 2007 12:43 pm Post subject: SsangYong UK goes bust |
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SsangYong UK went into receivership just before Christmas, which is probably not great news for recent buyers of their models. The letter from the administrators says that the company has ceased to trade, but "certain assets" were purchased by a company called Koelliker UK. This company only came into being in September 2007, but it may be a division of the current SsangYong importer in Italy, also called Koelliker. Hence, the good news is that SsangYong will almost certainly continue in the UK, under new management.
SsangYong has been crippled in the UK by the Band G road tax rate, which starts at 225 g/km of CO2. The SsangYong Rexton, the company's biggest seller, is rated at 228 g/km of CO2. That is not an issue for a Range Rover, but for a 4x4 sold on the basis of being good value, it is a major problem. SsangYong itself is owned by the Chinese manufacturer SAIC, who wants to turn SsangYong into a major brand. This development shows what a long journey the Chinese still have to make.
Reuters |
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