Hyundai plans 12-new vehicle blitz in the next three years, with focus on crossovers

Article by Andrew Christian, on April 22, 2014

Hyundai is planning to 12 new vehicles in the next three years, including into segments in which it has not yet entered, according to Dave Zuchowski, chief executive of Hyundai Motor America. It will be a similar strategy implemented in 2010 to 2012, during which growth was driven by “a really aggressive product cadence.”

He said that the South Korean carmaker will place heavy emphasis on the in-demand crossover segments where Hyundai has few offerings. Zuchowski told Automotive News in an interview at the New York Auto Show that the new vehicles will drive good growth, half of which will come from the carmaker’s increased presence in the crossover utility vehicle segments.

Extra crossover presence will come from increased availability of the Tucson compact crossover and the Santa Fe lineup. Zuchowski said last week the supply of Tucson CUVs will be hiked to support up to 90,000 sales in the United States after the next-generation model is rolled out in 2015. He disclosed that Hyundai is now working for additional production capacity for the Santa Fe.

He noted that sales of trucks and crossovers accounted for small percentage of Hyundai’s total sales – which should change over the next couple of years since right now, the growth and the margin is in the truck market.

Zuchowski disclosed that the new nameplates may include a subcompact crossover, which is currently under consideration. He remarked that carmakers are looking on the B-segment CUV and Hyundai is trying to see that as a possible approach to add incremental volume. [source: automotive news - sub. required]

Topics: hyundai, crossover

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