Although Hyundai will soon put its Veracruz model out to pasture, this doesn’t necessarily spell the end for a Hyundai large crossover in the future.
“I would say stay tuned for future details on a potential premium crossover,” Hyundai Motor America CEO John Krafcik told WardsAuto. No specific plans have been made regarding the addition, but Krafcik is looking towards the segment as an “intriguing space” in the auto industry.
This segment is occupied by competitors such as the Audi Q7, Mercedes-Benz GL-Class, Infiniti QX56, and the all-new 2013 Infiniti JX35. Hyundai’s move towards a premium crossover complements the brand’s overall shift towards luxury, seen on the Equus, Genesis, and Genesis Coupe models.
Hyundai originally planned to make the Veracruz a luxury-oriented model, but consumers often researched it alongside mainstream crossovers such as the Ford Edge and Toyota Highlander. The Korean automaker also miscalculated sales of the full-size crossover, predicting 50,000 units of sales per year. However, Hyundai only managed to sell 12,589 copies of the Veracruz in 2007, the crossover’s best sales year. Sales have continued to decline this year, as only 3,112 copies have been sold January through May.
For now, Hyundai is banking on the midsize Santa Fe crossover to partially fill the void left by the Veracruz. The redesigned 2013 Hyundai Santa Fe, expected to arrive late this summer, will feature a new look, more power, and improved fuel economy of up to 23/33 mpg.
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