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Cash (and Time) Runs Out for Korea's SsangyongThis is a discussion on Cash (and Time) Runs Out for Korea's Ssangyong within the More Asian Cars forums, part of the Other Forums category; Cash (and Time) Runs Out for Korea's Ssangyong By Andy Bannister 12.23.2008 In another sign that some of the weaker ... |
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12-24-2008, 02:27 AM
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| Enthusiast   Join Date: Mar 2007 Location: San Francisco, CA
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 | Cash (and Time) Runs Out for Korea's Ssangyong Cash (and Time) Runs Out for Korea's Ssangyong By Andy Bannister 12.23.2008 In another sign that some of the weaker players in the global auto industry could soon be knocked out, one of South Korea’s smaller manufacturers, Ssangyong Motor Company, has reportedly told its 8,000 workers it cannot pay their December wages. Although largely unknown in North America, Ssangyong widely exports a limited range of mainly 4X4 vehicles to markets around the world including Europe and Australia. The company is 51% owned by China’s SAIC (Shanghai Automotive Industry Corporation), which has threatened to withdraw its involvement as early as next month unless a restructuring plan is agreed by unions. Ssangyong has already slimmed down its dealer network in Korea and temporarily suspended production of all models on 17 December. This year it has seen total sales slide by nearly a third. Rest of article
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12-24-2008, 09:05 AM
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| Executive   Join Date: Sep 2005 Location: Sweden Gothenburg
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 | Re: Cash (and Time) Runs Out for Korea's Ssangyong Great...atleast the bad times will kill one of the EVIL companys aswell  So its not all bad
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| The Following User Says Thank You to The Artist For This Useful Post: | Kowalski (12-24-2008) |
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12-24-2008, 09:31 AM
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| Fanatic  Join Date: Dec 2006 Location: Manchester, UK Garage: 07 Passat Variant V6
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| Re: Cash (and Time) Runs Out for Korea's Ssangyong Cool! No more crappy ugly cars! 
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12-24-2008, 04:40 PM
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| Devotee  Join Date: Mar 2007 Location: Washington D.C Garage: Bavarian
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| Re: Cash (and Time) Runs Out for Korea's Ssangyong I wish they stop their production right away & start learning that vehicles don't necessarily have to be butt-ugly! 
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| bankruptcy, cash, december, korea, runs, saic, ssangyong, time, wages |
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