Hyundai Veloster N off to solid start in Korean market

Published : Nov 25, 2018 - 09:50 Updated : Nov 25, 2018 - 09:50

Hyundai Motor Co.'s performance-oriented Veloster N coupe is off to a solid start in the South Korean market, having sold more than 1,000 units since its launch in June, industry sources said Sunday.

Market watchers said that as of Wednesday, South Korea's No. 1 carmaker sold 1,007 units of the N-badged car. Hyundai had initially said it is launching the Veloster N here not to sell a lot of the cars but to showcase its technological prowess and bolster its corporate image among local consumers.

In this photo provided by Hyundai Motor Co., a pair of Hyundai Motor`s Veloster N coupes sporting "performance blue" paint are driven on a racetrack in South Korea. (Yonhap)

The car has been tuned for speed and racetrack handling characteristics, while being suited to handle everyday use. The base vehicle starts at 29 million won ($25,600), with most cars sold here around 31 million won with upgrades. This is much more affordable compared with foreign hot hatch rivals that generally cost an excess of 40 million won.

The version sold in the country comes with a 2-liter gasoline direct injection engine that can churn out 275 horsepower and 36 kilogram-force meter of twist. It has a six-speed manual shifter, oversized brakes and a tack type-motor driven power steering that is precise and gives drivers feedback.

"The company did not announce its sale target for the specialized vehicles that has received good reviews among automotive experts from around the world although the general consensus is that the sales so far exceed expectations," an observer said.

He pointed out that foreign cars that directly compete with the Veloster N sold 1,395 units up to September of this year, down 42.5 percent from a year ago when sales hit 2,425 units.

Hyundai Motor said 99.7 percent of buyers opted for the "performance package," with 51 percent asking for the "performance blue" paint job.

By age group, 23.6 percent of the Veloster N customers were in their 20s, followed by 48.4 percent in their 30s. Those in their 40s and 50s made up 18.2 percent and 9.7 percent of all sales, respectively.

"With the Veloster N, Hyundai hopes to make its presence known in the domestic performance car market," a company spokesperson said. He claimed the car has the performance to meet the high expectations of automotive enthusiasts in the country. (Yonhap)