Hyundai's revamped Sonata sedan was supposed to help the automaker reverse sluggish sales, but the vehicle is instead off to a very slow start in the key U.S. market.
Reception for the vehicle, which has been described by some as a bland substitute for its popular predecessor, in Hyundai's biggest market after China spells more bad news for the South Korean automaker which is battling intensifying competition and a strong local currency.
Hyundai is expected to post a 9 percent fall during its third-quarter net profit once it releases its quarterly earnings on Thursday, according to Reuters.
Industry analysts say the new Sonata, which launched in the U.S. back in June, has struggled to stand out on design and value in a crowded field where other sedans, like Honda's Accord and Nissan's Altima, offer better prices or designs.
In comparison, Sonata's predecessor helped Hyundai expand its U.S. market share after launching there in 2010.
"The new Sonata product super-exceeds the previous model in every way, shape, or form. But consumers are very much driven by what the vehicle looks like," said Scott Fink, chief executive of Hyundai of New Port Richey, Florida, which is Hyundai's biggest U.S. dealer, according to Reuters.
"You used to be able to pick out the predecessor model anywhere on the road, in a parking lot. Now in some regards, you have to go to the front of the car and look at the logo to make sure: 'Oh! that's my car'," Fink told Reuters.
The New York Times described the new Sonata's design as "bland" and "boring." Hyundai reportedly made the model less bold and more angular than its curvy predecessor in order to appeal to more "conservative tastes" in South Korea.
Hyundai sold 41,994 new Sonatas during the first four months on the year following its launch in the United States. To reach its 2014 U.S. sales target of 92,500, the automaker needs to sell around 17,000 new Sonatas per month for the rest of 2014.
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