[Car Talk Forest] Strategic Models Forecasted to 'Sing Sing' Hit Overseas

[Asia Economy Reporter Yu Je-hoon] Overseas customized ‘strategic models’ from domestic automakers are showing promising signs of success in various markets. Recently, premium brands have also been launching strategic models one after another, beyond just mass-market brands, drawing attention to the success of domestic companies. Automakers release locally tailored ‘strategic models’ to target the differing demands of each country. For example, while sedans are still considered the quintessential car in the domestic market, wagon-type models are popular in Europe, and pickup trucks and sport utility vehicles (SUVs) have high demand in North America, including the United States.

Among the region-specific models from domestic automakers, the pickup truck ‘Santa Cruz’ from Hyundai Motor Company, released after 31 years, is attracting public interest. Production began at the end of last month, and the model is scheduled for delivery in September. It has already filled about 50% of its annual production volume with pre-orders. This record was set even before the price ($23,990 to $39,720) was disclosed. Industry estimates put Santa Cruz’s annual production at around 30,000 units, meaning about 15,000 units have been pre-sold.

The popularity before the official launch is attributed to Santa Cruz’s unique positioning. Designed as a ‘sports adventure’ model combining the advantages of SUVs and pickup trucks, it is reportedly drawing interest from young urban residents and female drivers. Jose Munoz, Hyundai Motor’s Global Chief Operating Officer and Head of the North America Region, recently expressed confidence in a media interview, stating, “All production volume for this year will be sold by next month.”

The Indian market is also a focus for strategic models. Hyundai’s Santro (1998~) and Kia’s Sonet (2020~), both locally customized models, have already achieved success. This year, Hyundai’s small SUV Alcazar is showing promising sales. Alcazar, a 6-7 seat version of the ‘Creta’ strategic model for developing countries, achieved 4,000 pre-orders within just ten days of its launch and ranked first in sales in the Indian C-segment market in June.

Industry experts attribute the success of strategic models in the Indian market to ‘thorough localization.’ For example, the Santro is famously known for its high roof design that reflects the characteristics of many Indians who wear turbans, winning the hearts of local consumers. In fact, the Santro, which was discontinued around 2015, was ‘revived’ in 2018 due to its status as the ‘people’s compact car.’

Recently, customized models have also appeared in the luxury car market. Genesis plans to introduce the ‘G70 Shooting Brake’ in Europe in the second half of the year. The G70 Shooting Brake, a wagon-type model popular in Europe, expands the trunk cargo space of the newly launched The New G70 from last year, offering a practical and versatile model.

This content was produced with the assistance of AI translation services.