Hyundai Is Betting Big On Sedans And Ramping Up Production In 2024

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While the SUV market continues to be a significant one for the American auto business, there’s still room for traditional sedans. At least, some automakers believe that. The Hyundai Elantra and Sonata are fresh from updates last year, and the company is looking to move a lot more of them in 2024.

The automaker wants these cars to achieve “double-digit growth” this year, according to Hyundai Motor North America CEO Jose Muñoz, speaking with Automotive NewsMuñoz said increasing production of the Elantra and Sonata is a “key factor for profitability” this year.

“We are not trying to overproduce, but we’re losing some sales because the dealers don’t have the trims, the versions, that they would like to, so we’re very mindful of that,” he said. With higher interest rates, customers are looking for less expensive vehicles.

2024 Hyundai Sonata N Line And Elantra N Line

Hyundai moved a total of 801,195 vehicles in 2023, which was up 11 percent over the 724,265 units moved in 2022. If the brand achieves another 10 percent increase in 2024, it would deliver 881,315 cars. But Hyundai didn’t have a good start in January 2024, delivering just 47,543 cars—down 9 percent from January 2023.

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The updated Elantra just went on sale in the US in fall 2023, and in January, the company delivered 6,900 of them, which was down 20 percent from the same month last year. The newly refreshed 2024 Elantra (pictured above) wears a new shark-nose front end with a sharper appearance and skinny LED running lights. A U-shaped silver element accents the rear diffuser.

The 2024 Elantra starts at $22,775 after the $1,150 destination fee, while range-topping N model is $34,850.

 2023 Sales
Hyundai Elantra134,149 Units
Hyundi Sonata45,344 Units

Meanwhile, the refreshed 2024 Sonata (below) also has a new nose that includes thinner headlights. Inside, there are two 12.3-inch screens—one for the instrument cluster and another for the infotainment display. Buyers can opt for features like a head-up display and 12-speaker Bose stereo.

Hyundai also makes the 2024 Sonata available with all-wheel drive for the first time, in addition to the standard front-drive layout. Currently, it’s only available with the 2.5-liter four-cylinder that makes 191 horsepower and 181 pound-feet of torque. Sonata prices start at $28,650. The range-topping Hybrid Limited grade is $38,350. But Sonata sales also fell in January 2024. Hyundai moved 3,121 during the month, which was down 36 percent from the same time last year.

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Hyundai’s bestseller in January 2024 was the Tucson. The company delivered 11,116 of them, which was an 8 percent drop from 2023. The crossover’s popularity suggests the sedan push might not be taking hold quite yet.