Hyundai Motor announced on the 15th that it has officially launched the sports utility vehicle (SUV) "The All-New Palisade." The sales target for the new Palisade, featuring hybrid (HEV) and 9-passenger models, is set at 58,000 units for this year.
"The All-New Palisade" is a completely redesigned (full-change) model that has been released six years after its initial launch in November 2018. The 2.5 turbo gasoline model was released first, and the hybrid model is expected to be delivered in the second quarter.
During the launch event for "The All-New Palisade" held the previous day at Maison de Italy in Sujeong-gu, Seongnam, Gyeonggi Province, Hyundai Motor presented its domestic sales target of 58,000 units for the year. This figure is more than double the annual sales of last year's first-generation model (20,967 units).
"The All-New Palisade" recorded 33,567 contracts on its first day of pre-order sales, which was the third-highest number of contracts ever for new cars from Hyundai Motor and Kia. The total number of pre-orders is approximately 45,000 units.
In particular, the newly added hybrid and 9-passenger models are expected to drive sales. The hybrid model features Hyundai Motor's first adoption of next-generation 2.5 turbo technology. It has a maximum output of 334 horsepower, with a driving range of over 1,000 km per charge (measured internally). The fuel efficiency will be disclosed following government certification procedures.
Technologies specialized for driving utilizing the drive motor have been applied to improve ride comfort and driving performance. Electric vehicle convenience features, including a stay mode using a 1.65 kWh, 300V high-voltage lithium-ion battery in a no-start state for air-conditioning functionality, have also been implemented.
The interior space is configured in three rows. Compared to the previous model, the length and height have increased by 65 mm and 15 mm, respectively. In the case of the 9-passenger model, the space created by leaning back the center console between the driver and passenger seats can be used as a seat. The trunk capacity is 317 liters (L), which expands to 729 L when the third-row seats are folded down.
In terms of sales price, the hybrid model is about 6 million won more expensive than the gasoline model based on an individual consumption tax rate of 3.5%. The price for each trim of the gasoline model is 43.83 million won for the 9-passenger exclusive, 49.36 million won for prestige, and 55.86 million won for the calligraphy. For the 7-passenger model, the prices are 44.47 million won for exclusive, 50.22 million won for prestige, and 57.06 million won for calligraphy.
The 2.5 turbo hybrid model is priced at 49.82 million won for the 9-passenger exclusive, 55.36 million won for prestige, and 61.86 million won for calligraphy, while the 7-passenger exclusive is 50.68 million won, prestige is 56.42 million won, and calligraphy is 63.26 million won.
At the launch event the previous day, Hyundai Motor CEO Lee Dong-seock and Metal Workers' Union Hyundai Motor Branch Head Moon Yong-moon took the stage together. This was the first time representatives from Hyundai Motor's labor and management attended a new car event jointly. The labor and management representatives expressed their commitment to maximize production and ensure timely supply of "The All-New Palisade."