SsangYong Motor UK has hailed its return to profitability after seven years of losses as a “major milestone” in a year of restricted new car supplies and continued COVID-19 disruption.

The Korean carmaker’s UK operation, run by Gibraltar-based distributor Bassadone Automotive Group, delivered a 18.6% rise in turnover to £44.2 million and turned around a £4.7m pre-tax loss in 2020 to deliver a £506,000 profit in the 12-month period to December 31, 2021.

“After suffering badly from the impacts of COVID in 2020, the business has made excellent progress in 2021 and has achieved its target of returning to profitability for the first time in a number of years,” its annual report stated.

“The fact that this major milestone for the business has been achieved during a year when vehicle supply from the SsangYong factory in Korea has been restricted all year has been particularly pleasing.”

During 2021 SsangYong attracted 20 new car dealers from the discontinued Mitsubishi Motors in the UK new car retail franchise, the latest being North City SsangYong in Chingford.