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Sonata Hybrid, Elantra, Veloster And Accent To Capitalize On Rising Fuel Prices

2011.04.20 00:00:00 No. 1151
SONATA HYBRID, ELANTRA, VELOSTER AND ACCENT TO CAPITALIZE ON RISING FUEL PRICES
 


All Four Models Achieve Best-In-Class Standard 40 Miles Per Gallon on the Highway

 
NEW YORK, April 20, 2011 – The summer of 2011 could see gas prices approach $4.00 per gallon nationally according to the U.S. Energy Information Administration , driving demand for high-content, fuel efficient vehicles to an all-time high. This trend will help Hyundai Motor Company’s quartet of new 40 mpg standard highway cars – the Sonata Hybrid, Elantra, Veloster and Accent – build momentum. These cars make Hyundai the only manufacturer with four models achieving 40 mpg on the highway – no asterisks required. By the end of 2011, Hyundai Motor America expects to lead the industry in sales of 40 mpg highway fuel economy rated vehicles, with more than 200,000 units sold. This will represent more than 30 percent of Hyundai Motor America’s total anticipated sales.

    Hyundai plans to answer consumer demand by offering even more 40 mpg highway models over the next several years. In addition to the new Sonata Hybrid, Elantra, Veloster and Accent, Hyundai will introduce one more 40 mpg highway car and another achieving 40+ mpg in the next couple years. These additional models will further the company’s 40 mpg highway sales volume growth as it steams toward its stated goal of an EPA fleet average of at least 50 mpg by 2025.

  “Sonata Hybrid, Elantra, Veloster and Accent are tapping into a newfound consumer demand for high-content, fuel efficient cars,” says Mike O’Brien, vice president, Product and Corporate Planning, Hyundai Motor America. “These vehicles achieve 40 mpg highway without any additional cost or sacrificing content for a high fuel economy package, making them more attractive to general car buyers.”
 

RESEARCH POINTS TO MORE GROWTH

   Top automotive research firms forecast that the compact car segment will be the largest segment in the industry by 2012 with the subcompact being the seventh largest segment.

Market Intelligence research preformed by Kelley Blue Book reports that 81 percent of car shoppers said gas prices influenced vehicle considerations and this number will continues to rise with no end in sight to soaring gas prices. Between 2003 and 2010, fuel economy has risen from 14th to 5th , in terms of purchase consideration. Fuel economy is the number one factor in purchase decision for the compact and subcompact segments at more than 13 percent, according to Maritz New Vehicle Customer Study (NVCS). These trends appear to remain constant as long as gas prices continue to fluctuate. 


HYUNDAI’S AFFORDABILITY ADVANTAGE

             Affordability is a key driver in Hyundai’s growth in fuel efficient vehicles sales. The 40 mpg Sonata Hybrid is priced $890 less than the least expensive midsize hybrid sedan. The 40 mpg Elantra GLS A/T is priced $1,640 less than Ford Focus A/T Super Fuel Economy Edition (MSRP $19,585) and $2,680 less than the Chevrolet Cruze Eco A/T (MSRP $20,625) model that delivers only 37 mpg on the highway. The Veloster will be priced below the Honda CR-Z hybrid.
 
Elantra GLS M/T vs. M/T Competitors
 
  Elantra GLS Cruze LS Cruze Eco Focus S
Model Year 2011 2011 2011 2012
Trans. M/T M/T M/T M/T
Fuel Economy 29/40 26/36 28/42 26/36
MSRP* $15,695 $17,275 $19,175 $16,995
*Includes freight charges
 
Elantra GLS A/T vs. A/T Competitors
 
  Elantra GLS Cruze
LS
Cruze Eco Focus
S
Focus SFE
Model Year 2011 2011 2011 2012 2012
Trans. A/T A/T A/T A/T A/T
Fuel Economy 29/40 22/35 26/37 28/38 28/40
MSRP* $17,945 $18,200 $20,625 $18,090 $19,585
*Includes freight charges
 
Sonata Hybrid vs. Competitors
 
  Sonata Hybrid Camry Hybrid Altima Hybrid Fusion Hybrid
Model Year 2011 2011 2011 2011
Fuel Economy 36/40 31/35 35/33 41/36
MSRP* $26,545 $27,435 $27,560 $29,165
*Includes freight charges
 
 
 
 
LEADERSHIP OVER TIME
Over the past two model years, Hyundai Motor Company has added several 40 mpg cars.  In 2012, the company plans to sell 285,000 40 mpg cars, a 43 percent increase from 2011.
 
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai’s 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance. 
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Journalists are invited to visit our news media website: www.hyundainews.com and follow us on Twitter: @Hyundai.com
 


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