Hyundai showcases the 2012 Veloster sporty coupe and Curb Concept vehicle at the Detroit Auto Show. These are vehicles that Hyundai hopes will be able to appeal to younger buyers.
In 2010, the Hyundai brand has gained traction, headlines and a 24% sales gain in 2010 with a product lineup that includes upscale products such as the Genesis sedan and a redesigned Sonata. Hyundai has upscale ambitions and has revealed a new slogan, “New Thinking. New Possibilities.”
Hyundai said that the slogan exemplifies Hyundai's internal goal of offering premium-feeling products at a mainstream price. Hyundai CEO John Krafcik said that targeting the growing segment of younger buyers is still an important goal for Hyundai.
When compared to the brand's overall performance, Krafcik said that until 2010, its penetration in Gen Y had been a “little bit below average.”
In 2010, Hyundai was the No. 6 brand with Gen Y and it was also the No. 6 brand overall so he thinks that it has “kind of stabilized.” Nevertheless, Hyundai sees the potential for “a lot more growth” and is hoping that the Veloster will be successful at taking it further.
Dave Zuchowski, Hyundai's executive vice president of sales, said that Hyundai hopes to sell about 40,000 Velosters annually after the car starts selling this summer. [via autonews - sub. required]