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Global sales for the Hyundai Palisade are expected to cross the 200,000-unit mark for the first time this year. This milestone comes as Hyundai Motor Group focuses on a strategy that offers multiple engine types, including hybrids, to navigate a period of slower demand for electric vehicles.
As per a report by Pulse, the English service of Maeil Business News Korea, the carmaker sold 192,285 units of the Palisade in the first 11 months of this year. This figure already beats the previous annual record of 166,622 units set in 2023. The surge in sales is largely linked to the high demand for hybrid models, which combine gasoline engines with electric motors for better fuel efficiency. The Palisade first entered the market in 2018. In 2019, the company sold 107,514 units, which grew to 157,133 units in 2020 and 157,688 units in 2021. While sales dropped slightly to 151,427 units in 2022, they recovered the following year after a refreshed version of the vehicle was introduced. This year, Hyundai released a completely new version of the car called The All-New Palisade. This latest model offers more room inside and can seat seven or nine people. It also features a new hybrid system that uses a 2.5-liter turbocharged engine. This system includes technology that uses the electric motor to make the ride smoother and the car easier to steer. Hyundai is now planning to add more hybrid options to its global lineup. At its CEO Investor Day in September, the company shared its goal to offer 18 different hybrid models by 2030. This plan covers everything from small cars to luxury vehicles, allowing the company to stay competitive even as some buyers move away from fully electric cars. "The Palisade has become one of Hyundai's flagship SUVs, gaining popularity amid rising leisure activities and growing demand for spacious interiors," the report quoted an official from Hyundai Motor. "Hybrid models with high fuel efficiency and strong performance are contributing significantly to the increase in Palisade sales." (ANI)
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