Hyundai updates traditional gas-powered vehicles in response to electric vehicle market fluctuations
Hyundai is gearing up to enhance its presence in Europe, with CEO Xavier Martinet expressing a belief in the significant potential for improvement in the automaker's performance on the continent.
Martinet, formerly of Dacia, has outlined a strategic plan that includes a complete range of electric vehicles (EVs) across segments. This range will span from the Inter city car to the Ioniq 9 full-size SUV, making Hyundai the only brand in Europe to offer such a comprehensive EV lineup.
However, Martinet acknowledges the need for Hyundai to remain flexible in the face of a potentially slower than expected transition to electric vehicles in Europe. In such a scenario, the company is prepared to continue offering what customers want in the non-EV market.
To this end, Hyundai is ready to provide customers with multiple powertrain options, allowing them to choose what best suits their needs. This approach is evident in the upcoming production of the Concept Three, planned for next year, and the refreshed versions of the compact i20 and Bayon.
The renewed i20 and Bayon models will feature hybrid options, and they are set to boost sales as part of Hyundai's strategy to improve its performance in the B-segment. This segment is a crucial area for growth, as the company aims to increase its presence in fleet sales and achieve greater penetration in this market.
In addition to these models, Hyundai will continue to launch cars across all fuel types, including the new Hyundai Kona, one of the three new products launched in the B-segment in Europe in 2022. The other two new launches were the Hyundai Bayon and the new Hyundai i20. A production version of the Concept Three is also in the works.
As Europe remains a key market for Hyundai, the company is committed to addressing the unique challenges and opportunities it presents. With a focus on electric vehicles and the B-segment, Hyundai aims to close the gap with major markets like the US and India and solidify its position in the European automotive landscape.
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