Hyundai Boosts Its Profit Thanks To New SUVs, More Are Coming

Hyundai has announced a 26 percent increase on its operating profit for the first half of 2019, mainly thanks to the introduction of new SUVs like the Palisade and the Kona.

The Korean automaker wants to maintain its newfound momentum in the market, particularly in the US. Hyundai is planning to offer in order to catch up with the market’s demand.

Genesis confirmed that it will offer its first SUV in the market before the end of this year, while Hyundai will also launch the subcompact Venue in the US this fall with a sub-$20k starting price.

Also Read: Hyundai SUVs Welcome Venue Into The Family In Epic Launch Video

The new Hyundai Venue will sit underneath the Kona in the range and will be offered with a naturally aspirated 1.6-liter four-cylinder paired to either a six-speed manual or a CVT gearbox. All versions come with front-wheel drive only.

Hyundai’s strong performance in Korea and the States comes despite the continued slowdown in global economic growth, helping the company offset a sales slump in China due to the combination of the trade war with the U.S. and a lack of locally competitive models, Reuters reports.

Euisun Chung, Hyundai’s executive vice chairman and future chairman of the Korean car maker, is seen as the man behind the company’s revival. Chung has performed a sweeping reshuffle in Hyundai, bringing in many foreign executives, at a company that was dominated by Koreans.

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  • Leconte Dave

    Awww no…

    • Dude

      They also said they’re sticking with sedans and continuing to develop their sports line so things are still looking up

      • Robert Eller

        Hyundai is the brand to beat right now. All they need is a pickup truck of some sort, which is supposedly in development as well.

    • Bo Hanan

      What’s really scary is that Genesis hasn’t even debuted their first SUV yet.

  • PK

    thank bts for their sponsorship lmfao

  • bd0007

    Doesn’t count US sales of the Palisade which just started.

    Basically, the 2 largest drivers of increased profitability have been sales of the Palisade and face-lifted Genesis G90 in Korea.

  • Aqua Boogie

    Anyone buying a European car will pay more (TCO). Only disadvantage (in Europe) is depreciation, but that will change, although the market is a slow responder. Secondhand buyers profit most.

  • Enoch Gabriel Gonzales

    Funny because not a single of those they call “SUVs” is actually an SUV. They should bring the Hyundai Galloper back or come up with at least one decent Body-on-frame SUV. They can use the Kia Mohave platform, they can even use it as a base for their Santa Cruz pick-up.

    • Matt

      SUV doesn’t have to be body-on-frame. Just ask the Grand Cherokee or Discovery.

      • Enoch Gabriel Gonzales

        okay, but at least give it a decent ground clearance and make it primarily RWD. Palisade’s ground clearance is lower than that of subaru outback and that’s a shame

    • bd0007

      Technically, they’re CUVs/crossovers, but the term SUV has become all-encompassing to included both true SUVs and CUVs.

      As for the Mohave plaform, it’s old and reportedly H/K are developing a new BoF platform to underpin a family of pick-ups and SUVs.

  • Six_Tymes

    I like their styling, and own a Hyundai myself, but they are over priced, and the engines are not as reliable as others.

    • Bash

      Now that’s strange. Hyundai is supposed to me the big brother of KIA. Yet we don’t hear or read much about their engines reliability as Hyundai.

    • bd0007

      Overpriced?

      The 2 still undercut Toyota and Honda and pretty much all the reviews of the Telluride and Palisade rave about how much value they bring in comparison to the competition.

      There have been buyers willing to pay well over sticker for the tough to get SXP trim for the Telluride.

      Overall, H/K engines are pretty reliable; the one problematic one is the ancient 2.0L.

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