Hyundai counts on revamped Tucson crossover to revive China sales
Hyundai Motor Co. is banking on its redesigned Tucson compact crossover to tap rising demand in the segment and boost flagging sales in China, its largest market.
South Korea's largest automaker seeks to deliver 570,000 Tucsons overseas in 2016, the company said in a statement, compared with 540,053 vehicles last year. The new Tucson, which will compete with the Ford Escape and Volkswagen Tiguan, will be produced at Hyundai's factories in Korea, China and Europe.
The overhaul comes as Chairman Chung Mong-koo is forecasting the combined deliveries of Hyundai and Kia Motors Corp. this year will grow at the slowest pace in nine years.
Last year, the Tucson accounted for 11 percent of Hyundai's total passenger vehicle sales, up from a 7 percent share five years ago.
"Hyundai will be able to lift the overall lagging sales in its major markets like the U.S. and China" with the new Tucson, said Shin Chung-kwan, an analyst at KB Investment & Securities Co. "Hyundai will also be able to take advantage of growing demand for compact SUVs and bigger vehicles."
In addition to the 2.0-liter diesel engine, the redesigned Tucson will provide a downsized 1.7-liter diesel engine, the company said.
Since the Tucson was introduced in 2004, Hyundai sold slightly more than 1 million in China, the company said.
Hyundai's sales in China declined 5.7 percent for the first two months of the year, even as industrywide deliveries rose 8.7 percent, according to data from the company and the China Association of Automobile Manufacturers.
The overhaul comes as Chairman Chung Mong-koo is forecasting the combined deliveries of Hyundai and Kia Motors Corp. this year will grow at the slowest pace in nine years.
Last year, the Tucson accounted for 11 percent of Hyundai's total passenger vehicle sales, up from a 7 percent share five years ago.
"Hyundai will be able to lift the overall lagging sales in its major markets like the U.S. and China" with the new Tucson, said Shin Chung-kwan, an analyst at KB Investment & Securities Co. "Hyundai will also be able to take advantage of growing demand for compact SUVs and bigger vehicles."
In addition to the 2.0-liter diesel engine, the redesigned Tucson will provide a downsized 1.7-liter diesel engine, the company said.
Since the Tucson was introduced in 2004, Hyundai sold slightly more than 1 million in China, the company said.
Hyundai's sales in China declined 5.7 percent for the first two months of the year, even as industrywide deliveries rose 8.7 percent, according to data from the company and the China Association of Automobile Manufacturers.
