Several popular mainstream brands are preparing to ramp up production of affordable sedans and crossovers as they aim for record sales numbers.
Hyundai, for example, plans to increase production of the Elantra and Sonata sedans as the company aims to reach "double-digit growth" this year, said Hyundai North America CEO Jose Munoz. Entry-level and more affordable models hold the key to achieving sales of 900,000. Last year, the brand sold well in America, shifting some 801,195 cars. To achieve double-digit growth percentages will be challenging, but sedans are selling.
While crossovers and SUVs contributed significantly to Hyundai's bottom line, the Elantra was the marque's second best-selling model, with 134,149 examples sold. Recently refreshed for 2024, it starts at $21,475. The Sonata was not as successful, with sales falling 18% to 45,344, but that may change with the latest update.
Read Article