Will the Veloster N be as successful in the US?
Last year, Hyundai revealed its first new model for the long-awaited N Division, the i30N. Unfortunately, the i30N was only available in Europe, so buyers in the US were left in the dark while Europe received Hyundai's sportiest new model. Mercifully, Hyundai later revealed the Veloster N, which packages the i30N's drivetrain in a sportier body.
Since going on sale last September, the i30N has been a massive sales success in Europe. The limited run First Edition model sold out in just two days, and now Automotive News reports that Hyundai is struggling to keep up with demand for the i30N.
In fact, Hyundai has already reached its full-year sales goal by June, and customers ordering the car now won't receive it until next year. "Initial sales of N products are going beyond expectations," said Thomas Schemera, head of Hyundai's high-performance vehicle division. "Almost 3,000 units of the i30 N were sold in the first half of 2018 in Europe."
This is both a good and a bad problem to have. On the one hand, Hyundai has finally created a product that people are anxious to buy and are aspiring to own. On the other hand, too much demand can lead to supply issues and all of that hype could quickly die off if sales trend in the same direction as some other recent hot hatchbacks.
Just look at the Honda Civic Type R - when it first arrived in the US, some dealerships were charging markups of over $25,000 on top of the sticker price. If Hyundai can't keep up with demand, we could easily see US dealers being greedy and charging markups on the Veloster N. "We can't build enough," Schemera said, adding that the Veloster N will be even sportier than its European sibling because it will 88 pounds lighter.
He also confirmed that "We have a six- to seven-month waiting list on the car basically everywhere." At the launch event for the new Veloster Turbo, Hyundai confirmed to us that the Veloster N would not be a limited run car and that dealer markups should not be an issue. We sure hope Hyundai can keep the Veloster N in supply, otherwise, we should prepare for some serious dealer markups.