Hyundai Motor Co. is trimming its automobile lineup to deal with crossovers and its budding battery-electric Ioniq sub-brand.
For mannequin yr 2023, the Korean automaker will reduce the Accent subcompact sedan, the Veloster N hatchback and each the hybrid and plug-in hybrid variants of the Ioniq compact automobile.
The final sedans standing for the model would be the forthcoming Ioniq 6 all-electric midsize sedan that may go on sale in early 2023, and the midsize Sonata and compact Elantra, which Hyundai says are each nonetheless in demand in a market now dominated by crossovers.
“Like some of our competitors, we have decided to stay in the passenger car business, and some of our best-performing vehicles, like Elantra or like Sonata, are still doing quite well,” stated Hyundai Motor Co. COO Jose Munoz, throughout a media briefing this week on the firm’s R&D middle in Michigan.
Through June, gross sales of the Sonata and Elantra slid 64 p.c and 34 p.c respectively as Hyundai prioritizes manufacturing of its higher-margin crossovers and EV. But the Elantra ended 2021 up 18 p.c, with gross sales topping 124,420. Elantra gross sales hit 93,142, representing a rise of 21 p.c.
Both sedans provide a gasoline and a hybrid variant, and hybrids are an vital a part of Hyundai’s electrification technique because it strives to satisfy stringent emissions rules within the U.S. by 2026. Hyundai additionally believes that providing gas-buyers extra electrified choices will assist ease them into EVs sooner or later.
“The strategy of having not only battery EVs, but having more traditional ICE models in combination with hybrids — like Elantra also having a hybrid version, Sonata also having hybrid and plug-in hybrid version — is working well,” Munoz stated.
Hyundai will now depend on the Venue subcompact crossover to fill the outgoing Accent’s entry-level function. The Venue mixes gas effectivity and fashionable styling carefully associated to Hyundai’s flagship three-row Palisade. Pricing has not been introduced for the 2023 mannequin, however the present mannequin yr Venue is $20,295, together with delivery.
Removing the Veloster N will enable Hyundai to refocus its performance-oriented N model, which added the Kona subcompact crossover and the Elantra compact sedan for 2022.
The Kona N makes use of a 2.0-liter turbocharged four-cylinder engine paired to an eight-speed twin clutch transmission. The 2022 Kona N prices $35,495 with delivery. The Elantra N presents the identical powertrain and prices $34,745. There is also a handbook transmission possibility, which prices barely much less. Hyundai has not introduced pricing for 2023 mannequin yr.