Hyundai Motor's Avante (HMG)
Hyundai Motor said Thursday its steady-selling sedan Avante’s latest model has received 10,058 preorders on the first day of reservation.
The number is double the average monthly sales figure of Avante, as well as nine times more than the preorders for sixth-generation Avante, the company said.
It is also beats the past preorder record of the first-generation Avante -- which was named Elantra.
The automaker said the number is meaningful amid the sharply falling consumer demand for midsized sedans compared to sport utility vehicles over the past five years.
According to the company, the consumer demand for sedans reduced from some 181,000 units in 2015 to 123,000 in 2019. Meanwhile, demand for SUVs soared from 86,000 units in 2015 to 184,000 in 2019.
Hyundai began receiving preorders for the all-new Avante from Wednesday.
The price range has not been fixed, but market insiders expect it to be priced between 15.7 million won ($12,800) and 19.5 million won, considering a full package of high-tech driving assistance functions.
The latest model was unveiled in Los Angeles at its world premiere last week.
By Kim Da-sol (firstname.lastname@example.org