Ssangyoung hasn't made any impact on many markets, but it represents the potential failure of a foreign automaker. While this isn't a Western brand, it is important to recognize the implications of a failure of a foreign car market. Ssangyoung has posted a
$76.7 million deficit, making it impossible for the automaker to pay employees any longer. The company has requested money from Chinese parent Shanghai Automotive, but the Chinese company has no intention of paying Ssangyoung's debts. This occurred in the wake of a 63% sales slump since last year.
Discuss.
