Hyundai to Bring New SUV to U.S. After Splurging on Discounts
- Company had to boost discounts on aging lineup of sedans
- Hyundai profit hit by decline in China, U.S. deliveries
This article is for subscribers only.
Hyundai Motor Co. is banking on a new compact SUV to reinforce its lineup and help arrest a slide in sales in its biggest markets, after misjudging the consumer shift away from sedans that forced the South Korean automaker to increase incentives for consumers.
The compact model, called the Kona after a seaside town in Hawaii, will be introduced in the U.S. and Europe in the second half after a home debut last month. The vehicle will join the full-sized Santa Fe and mid-sized Tucson in Hyundai’s portfolio.