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Hyundai Palisade Hits 200K Sales Milestone, Fueled by Hybrid Surge

Global sales of the Hyundai Palisade are projected to exceed 200,000 units for the first time in 2024, already surpassing last year's record within the first eleven months. This surge is largely attributed to strong consumer demand for hybrid models, which offer improved fuel efficiency and performance. Hyundai recently launched an all-new Palisade featuring a refreshed design, more interior space, and a new hybrid system for a smoother drive. The company is strategically expanding its hybrid lineup, aiming to offer 18 hybrid models by 2030 to cater to market shifts and sustain competitiveness.

Key Points: Hyundai Palisade Sales Cross 200K as Hybrid Demand Soars

  • Sales to cross 200K for first time
  • Hybrid demand drives record growth
  • New model offers 7-9 seating & smoother ride
  • Hyundai plans 18 hybrid models by 2030
2 min read

Hyundai Palisade global sales set to cross 200,000 mark as hybrid demand soars

Hyundai Palisade global sales set to surpass 200,000 units in 2024, breaking records as hybrid models drive growth amid shifting EV demand.

"Hybrid models with high fuel efficiency and strong performance are contributing significantly to the increase in Palisade sales. - Hyundai Motor Official"

Seoul, December 29

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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Reader Comments

P
Priya S
Impressive numbers! 🚗 The focus on hybrids is smart. While EVs are the future, the charging infrastructure in many parts of India is still developing. A hybrid Palisade would be perfect for long drives to hill stations without range anxiety.
R
Rohit P
Good to see Hyundai adapting. But I have a respectful criticism: their hybrid tech needs to be more affordable for the Indian market. The price gap between petrol and hybrid versions of cars like the Creta is still quite high. Mass adoption will only happen when it's cost-effective.
S
Sarah B
The sales recovery after the refresh shows how important it is to keep updating models. Indian consumers are very discerning now. A spacious 9-seater hybrid SUV would be a game-changer for large families and airport taxi services.
V
Vikram M
Hyundai is playing it safe and smart. 18 hybrid models by 2030 is an ambitious plan. Hope they include strong hybrids and not just mild ones. For a country like ours, real fuel savings matter. The Palisade looks like a proper flagship.
K
Kavya N
As someone who travels frequently with extended family, a 9-seater hybrid SUV is a dream. The current options in India are either too thirsty or too expensive. Hyundai, if you're listening, the Indian market is ready for this! 🙏

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