Compact Car Market Heats up with New Releases

      March 23, 2017 11:21

      New versions of Hyundai's Avante and GM Korea's Cruze are squaring off in the compact car market.

      GM released the All New Cruze in January, the first totally revamped version in nine years, but hit a snag due to its relatively high prices. It lowered the prices recently about some two weeks ago, and sales have gone up to surpass that of March last year.

      The Avante has been the long-time market leader in the compact car segment. Hyundai launched the new version of the Avante this week with an increased price tag to go higher end to fend off challenges from the All New Cruze.

      "Despite the price hike, prices range between W15.7 million and W21.65 million, which is still cheaper than the All New Cruze, which costs from W16 million to W23 million," said a Hyundai staffer (US$1 = W1,125).

      Last year, the Avante sold 93,804 cars, crushing the competition in the segment. Kia's K3 came  second with 36,854 sold and GM Korea's Cruze third with 10,857.

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