Since July 2020 Bassadone Automotive Group (BAG) has been in detailed discussions with Mitsubishi Corporation (MC) about acquiring areas of The Colt Car Company’s (CCC) UK operation, following the announcement that Mitsubishi Motors is to leave the UK and Europe earlier this year.
BAG confirmed its strong belief that there was significant mutual interest in this arrangement however the company has today confirmed that MC has withdrawn from negotiations, and that it will focus on preparing its business for the run out of its parts operations.
BAG is the parent company of SsangYong Motors UK based in Gibraltar and has been a private European automotive distributor since 1927.
Nick Laird, CEO of BAG commented; “The news is clearly disappointing; however, we wish MC and the team at CCC all the best for the future.”
Jim Tyrrell, Chairman at SsangYong Motors UK, added; “In spite of this disappointment, we continue to have a robust business for the future. SsangYong’s global product programme is very exciting - the Musso pick-up has recently added two additional awards from 4x4 Magazine to its portfolio of awards; new model Rexton will launch in March, and the pure-electric Korando will arrive with us in the UK mid-2021.”
In recent weeks SsangYong has welcomed 10 Mitsubishi dealers to its family and are in discussions with many more. About this, Jim continued; “There is a clear overlap in product ranges, so Mitsubishi dealers would find the SsangYong range easy to sell. We will be holding an open day at head offices in Swindon on January 19th and would like to encourage all Mitsubishi dealers to contact us to arrange to come. We will be showing the full range of product and all of our management team will be in place to answer questions.”
NOTES TO EDITOR;
Franchising Manager, David Rose 07964 806938
Made in Korea
SsangYong cars are manufactured in South Korea by SsangYong Motor, which is 75 per cent owned by the Indian engineering conglomerate Mahindra & Mahindra and imported into the UK by SsangYong Motor UK. Established in 1954, SsangYong is Korea's oldest vehicle manufacturer and only 4x4 and SUV specialist producer. There are currently some 65 SsangYong dealers covering England, Northern Ireland, Scotland and Wales, with new locations being added to the network all the time.
To download hi res images via the SsangYong online press office visit: https://media.ssangyonggb.co.uk/
SSANGYONG MOTORS UK PRESS OFFICE
Vanessa Cox E: email@example.com T: 07535 875997