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Hyundai Tries Their Luck Within the Overcrowded SUV Market

When you hear the car manufacturer “Hyundai”, you most likely think of their popular line of sedans, as that’s what they are most famous for. They are finally considering joining the SUV market by looking into creating a model that would be based on the Genesis sedan.

Even with this exciting news for Hyundai lovers, it still could take roughly two or three years prior to seeing one in the flesh in your local demographic. Southern Korea usually struggles with locating buyers for this type of vehicle as it is primarily purchased in the states or by Japanese buyers. Reuters recently revealed that experts believe the already saturated SUV market in the states will be a challenge for the Hyundai brand to sway. If the oil prices begin to shift in the wrong direction again, then many potential SUV buyers could be ready to make the switch to a much smaller, more economical car instead.

A Hyundai representative advised the company is weary of larger SUVs that are selling well currently. They are however, seeking to bridge the gap between a Genesis style SUV and a higher end model. It would be in an attempt to revamp their company brand image to steer buyers away from the cliché of Hyundai only making small sedans. Why model their SUV on the Genesis you ask? Well, as far as sales are recorded, the company sold nearly 15,000 between January and May.

Hyundai was already in production of their other SUV model, the Veracruz, but says they will be pulling the plug on that project. Last year, the company was only able to squeeze out less than 5,000 Veracruz buyers, so to assume a change is welcomed at this point would be accurate. They are going to cater to the market needs in the future, and hopefully make a massive comeback where SUVs are concerned.


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