Hyundai Staging Aggressive Product Launch, Focus on CUVs
Hyundai is on the offensive. The Korean automaker is reportedly planning an aggressive product launch that consists of 12 all-new or redesigned vehicles over the next three years, and although specific product launches haven't been discussed, the automaker appears to have its eye on the crossover segment.
"[The] new products are going to drive good growth, and half of that growth is going to come from an increased presence in the CUV segments," Hyundai CEO David Zuchowski told Automotive News. The Santa Fe and Tucson are currently the only CUVs offered in the lineup, and Hyundai plans on increasing their availability. When Hyundai introduces the next-gen Tucson next year, it plans on ramping up the crossover’s production in an effort to reach a sales goal of 90,000 units in the U.S. The Santa Fe will also see an increase in production.
As for new products, Zuchowski recognizes the booming subcompact crossover segment. "Everybody's looking at this B-segment CUV," he said. The upcoming Chevrolet Trax and Honda HR-V are just a couple of the newest entrants, which will compete with the likes of the Nissan Juke when they arrive later this year. That means the Korean automaker could introduce something below the Tucson, which currently starts at $22,325.
Source: Automotive News (Subscription required)