(July 6, 2022) Hyundai is further trimming its car lineup to focus on crossovers and its budding battery-electric Ioniq sub-brand. For the 2023 model year, the Korean automaker will cut the Accent subcompact sedan, the Veloster N hatchback and both the hybrid and plug-in hybrid variants of the Ioniq compact car.

The last sedans remaining for the brand will be the Ioniq 6 all-electric midsize sedan that will go on sale in early 2023, and the midsize Sonata and compact Elantra, which Hyundai says are both still in demand in a market now dominated by crossovers.

"Like some of our competitors, we have decided to stay in the passenger car business, and some of our best-performing vehicles, like Elantra or like Sonata, are still doing quite well," Hyundai  COO Jose Munoz said during a media briefing this week at the company's R&D center in Michigan.

Through June, sales of the Sonata slid 64 percent and sales of the Elantra slid 34 percent, as Hyundai prioritizes production of its higher-margin crossovers and electric vehicles. But the Elantra ended 2021 up 18 percent, with sales topping 124,420. Sonata sales hit 93,142 last year, representing an increase of 21 percent.

"The strategy of having not only battery EVs, but having more traditional ICE models in combination with hybrids — like Elantra also having a hybrid version, Sonata also having a hybrid version — is working well," Munoz said.

Hyundai will now rely on the Venue subcompact crossover to fill the outgoing Accent's entry-level role.  Pricing has not been announced for the 2023 model, but the current model year Venue is $20,295, including shipping.

Source: Automotive News