Hyundai Hopes Bigger, Revamped Santa Fe Will Reverse U.S. Sales Slump
In this last year, 2017, Hyundai’s sales have been reported as down by 12% in the United States market. While no clear reason is evident for the slump, Hyundai does blame, in part, the local currency fluctuations in Korea and its political strife with China.
This percentage drop in U.S. sales represents the worst sales figures for Hyundai in the last 7 years. Although it’s a Korean company, more than half of its sales are in the United States.
Those reasons do make sense of some of the flailing sales. However, the company also feels that the Santa Fe is in need of some design changes. Hyundai executives believe that changes are needed to remain competitive in the automotive SUV industry.
In the fall of 2018, Hyundai will release a 2019 Santa Fe model that will be longer in overall length. It also will have a larger interior. Insiders have unofficially reported that the new Santa Fe will have a 2.0 liter gasoline engine or a 2.2 diesel engine. These aspects, the company believes, will help keep it on the table as good competition for other mid size sport utility vehicles such as the Ford Explorer, Honda Pilot and Toyota Highlander.
Known for its lower prices and great warranties, Hyundai has become a serious car company business in the United States for over a decade. As a result of this recent falloff of its sales, its Alabama manufacturing facility is hoping to recover from this economic struggle.