But will a slew of new models be enough to increase sales?
2018 was set to be a difficult sales year for Hyundai and Kia. Even so, the Korean auto group finished just shy of its 7.55 million unit target in 2018 with sales of 7.399 million vehicles. Together, Hyundai and Kia finished the year as the world's fifth-largest automaker and plan to carry momentum into 2019. It isn't going to be easy, especially as tariffs loom over markets in the US and China, but Hyundai-Kia still expects growth in 2019. According to Automotive News, Korean automakers are setting what they call a "conservative target" of 7.6 million vehicle sales in 2019, which would be a 3 percent increase over 2018.
So how exactly do Hyundai and Kia plan to achieve this sales goal? With new leadership, for starters. Hyundai-Kia heir apparent Euisun Chung is expected to succeed his father as the head of the group. Chung plans to restructure the group after the previous regime failed to cash in on the SUV boom and toned down the company's formerly award-winning design.
"Internally, we face challenging tasks such as stabilizing business in major markets like the US and China, while simultaneously enhancing our responsiveness to drive future growth," Chung said.
Introducing a slew of model models will be a key piece on Chung's plan to increase sales in 2019. The Hyundai brand currently has one of the freshest lineups in the industry and even more new models are on their way.
Hyundai-Kia says it will reveal 13 new or facelifted models in 2019, including the much-needed first crossover model from the luxury Genesis brand. Kia will also launch its full-size Telluride SUV, which comes right off the heels of the recently-revealed Hyundai Palisade and redesigned Santa Fe. Of course, in addition to all of the new crossovers and SUVs, Hyundai is reportedly working on a performance flagship for the N brand, which should keep enthusiasts happy.