April 20, 2024

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[THE INVESTOR] Hyundai Motor said on March 12 it has sold over 20,000 units of the all-new Santa Fe SUV since its domestic launch three weeks ago.

The sales figure has already reached nearly 40 percent of the 51,000 Santa Fes sold for the whole of last year, Korea’s largest carmaker said.

As the demand for recreational vehicles is on the rise due to a growing focus on work-life balance, the carmaker expects the sale of SUV models will rise further this year.

Seven out of 10 customers chose the fully revamped Santa Fe mated with a 2.0 diesel engine and an eight-speed automatic transmission. Santa Fes with a 2.2 diesel engine and a 2.0 turbo gasoline engine were in less demand, the company said.

In Korea, Hyundai aims to sell 90,000 Santa Fes in 2018. The model to be sold in the United States this year will be a gasoline-powered version. Hyundai’s overall sales this year will be greatly affected by the sale of the new SUV in the world‘s most important automobile market, it said.

By Song Seung-hyun (ssh@heraldcorp.com)