Through the first half of the year, Hyundai's market share has slipped from about 5.9 to 5.65 percent, and even though the Korean automaker remains the fourth-biggest brand in China, it is losing ground against Volkswagen, GM, Toyota and Nissan.
The new model is "sized between the Sonata and the Elantra," a Hyundai spokesman told Reuters.
Referred to as a "Sonata-lite" by an unnamed source in the report, the new car would likely arrive in China in about 18 months. Designed to be just about as roomy as the Sonata but with a smaller footprint and reduced fuel consumption, the car fills what Hyundai perceives as a grey area between its more traditional compact and midsize models. Though it draws heavily from the Elantra's architecture, Hyundai seems more interested in comparing it to the larger and pricier Sonata.
A 1.6-liter turbocharged four-cylinder, ostensibly the same unit used in the recently-launched Veloster Turbo in North America, will power the vehicle, as will an unboosted 1.8-liter.
The car won't be destined for markets outside of China, although its platform could very well be used for Hyundai or even Kia models in other markets. Defying trends in Detroit, Hyundai has made a practice of marketing uniquely styled vehicles across many of its global markets.
