More consumers are looking for cost-effective vehicles. This trend is a consequence of the economic downturn. The Avante is a prime example. It has been Hyundai’s best-selling model since its launch in 1990, now in its seventh generation. Often referred to as the textbook example of a compact sedan, the Avante achieved sales of 19,055 units in the first quarter of this year, marking a 46.3% increase from 13,026 units sold the previous year.
The newly launched Kona is also benefiting from the compact car boom, with sales increasing to 8,880 units in the first quarter, a staggering 310% rise compared to the previous year’s figure of 2,161.
Kia is also experiencing strong sales in both compact and microvehicle categories. The Ray recorded sales of 12,008 units, reflecting a 15.7% increase from the previous year’s 10,382 units. The Seltos also saw growth with 12,809 sales units, up 13.6% compared to last year’s 11,272 units.
Chevrolet has contributed to the compact car market boost by launching the Trax crossover last month. Priced starting at 20.52 million KRW, the Trax crossover features a 1.2-liter three-cylinder engine and spacious interior akin to that of a mid-size car, leading to over 13,000 pre-orders within just one week of its launch.
Beginning this month, deliveries of the Trax crossover will start, and the Changwon factory’s production line is operating at full capacity.
Considering the ongoing global economic downturn due to interest rate hikes in the United States, it is anticipated that manufacturers will continue to focus on enhancing sales of compact cars until the end of next year.
Lee Sang-jin daedusj@autodiary.kr