FLAGGING SALES
Hyundai off to slow start in SUV race with Kona its first entrant
Car maker is counting on its first global compact SUV model to revive flagging sales
Hyundai Motor Co is counting on its first global compact SUV model to revive flagging sales after missing out on the popularity of sport utility vehicles in its major markets. Vice-chairman Chung Eui-sun unveiled the Kona SUV on Tuesday, with a starting price of 18.95-million won ($16,800). The model will begin sales in South Korea in June, followed by North America and Europe, and is expected to compete with the Honda HR-V, Toyota C-HR and Nissan Juke. The car maker plans to introduce several SUV models in various categories and power trains. "The global SUV market is an important market that has shown seven consecutive years of growth," Chung said. "Rather than hastily entering the market, Hyundai released the Kona after thoroughly analysing consumers and the market, as well as the technology." Hyundai is playing catchup after being caught out by the shift in consumer preference away from sedans to larger and more expensive SUVs. The Kona is only the third global SUV model in the ...
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