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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai, Kia to release 7 new cars in 2017

  • PUBLISHED :November 25, 2016 - 16:42
  • UPDATED :November 25, 2016 - 16:42
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[THE INVESTOR] Hyundai Motor and Kia Motors -- which make up the world’s fifth largest automotive group Hyundai Motor Group -- will roll out seven new cars next year in South Korea, in an effort to take a firm grip on its home turf, according to company officials on Nov. 25. 




Kia Motors will start out the year by launching its popular subcompact Morning, a fully changed model in five years. It aims to take the No.1 spot in the competitive city car market.

In the first half of the year, Hyundai will unveil hybrid version of the new six-generation Grandeur sedan, while releasing the diesel model of G80 from Genesis, Hyundai’s luxury brand.

Meanwhile, Kia will roll out its first-ever sport sedan, tentatively named CK. According to industry watchers, the name of the car could start with K to be included in the automaker’s K-series lineup.

In the second half of the year, Hyundai will release G70, Genesis’ smallest sedan in the lineup, to compete with foreign rivals such as BMW 3-Series, Mercedes-Benz C-Class and Audi A4.

Kia Motors will bring new compact sedan Pride, known as Rio in overseas markets, to the Korean market in the second half of the year. The car, which was unveiled during the Paris Motor Show in September, will be released in Europe first and then in Korea.

Hyundai is also planning on introducing a small sport utility vehicle, to compete with local rivals Ssangyong Motor’s Tivoli and Renault Samsung’s QM3.

The number of new cars next year slightly dropped from nine vehicle models introduced this year, which include Hyundai’s Ioniq, i30, Grandeur and G80 and Kia’s K7, Niro and Mohave, Carens and Soul. But next year’s launch will include some brand new models that were introduced before.

Hyundai Motor Group’s ambitious plan come as the automaker may fall short of its production target this year at both home and abroad, weighted down by the labor strike and protracted economic slump.

Hyundai and Kia had set a sales target of 8.13 million units globally, but industry watchers project it will be difficult to even pass the 8 million threshold.

Also in the domestic market, their combined market share dipped below 60 percent in October, for the first time since the auto conglomerate was founded in 2000. 

By Ahn Sung-mi (sahn@heraldcorp.com)

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