Monday, February 12, 2007

Hyundai Motor to launch luxury SUV in U.S. market in March

Hyundai Motor to launch luxury SUV in U.S. market in March

SEOUL, Feb. 11 (Yonhap) -- Hyundai Motor Co. said Sunday that it plans to launch its new luxury sports-utility vehicle in the U.S. market in March.

South Korea's No. 1 carmaker said the Veracruz has received good reviews at its unveiling at the Detroit Motor Show in January. It said the GLS, SE and Limited models of the vehicle will be sold.

Hyundai said it plans an aggressive advertisement blitz to promote the Veracruz and will invite reporters to test drive the vehicle. It said ads will be placed on TV, radio, and in major newspapers and magazines.

The SUV has a 3800cc V6 engine with a price of about $30,000 and will compete with such SUVs as the Ford Explorer, Honda Pilot, Toyota 4Runner and Nissan's Murano.

"Hyundai believes that the quality and design of the Veracruz is on par with the competition," said a company spokesman. He added that despite the high price, domestic sales of the SUV have remained relatively steady at 1,000-2,000 units per month since late last year. The vehicle sells for 31.8-42.7 million won depending on options.

Taken from Yonhap News.

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