[THE INVESTOR] Hyundai Motor on June 13 unveiled its first subcompact SUV Kona on its home turf, saying it hopes to sell 41,000 units globally this year.
“Following the launch in Korea, Kona will be shipped to Europe in August and the US in December,” said Rhim Byung-kwon, executive vice president overseeing the international sales division, at Kona’s unveiling event.
“We plan to ship 41,000 units this year to the two major markets Europe and the US and expand the global sales to 150,000 units next year.”
Kona, which comes in 1.6-liter gasoline and diesel engines, will hit the Korean market later this month, with preorders starting on June 14.
“This year, we plan to sell 26,000 units in the domestic market and extend the target to 45,000 units next year,” said Lee Kwang-guk, executive vice president of domestic sales.
Hyundai said it will continue to sell Creta, Hyundai’s B-segment strategic model sold in China as ix25, even after the Kona launch.
Hyundai introduced Kona to tap into the burgeoning compact SUV market, as well as the automaker’s ambition to complete the full SUV lineup by 2020. It said it plans to launch the smallest A-segment SUV, which sits below Kona, and the biggest E-segment, larger than Sportage SUV, by 2020.
By Ahn Sung-mi (firstname.lastname@example.org)