Hyundai’s large sport utility vehicle (SUV) Palisade, which was partially redesigned last year after more than four years, is selling like no other SUV in its class. It has proved its popularity by ranking third in sales among all SUVs amid the SUV craze.
According to Kaizu Data Research Institute on the 20th, The New Palisade, a partially changed model that has been on the market for one year, is selling an average of 4,000 units per month. Cumulative sales since its launch in May last year have totaled 44,251 units. This compares favorably to the Kia Mojave (9485) and Chevrolet New Traverse (2157).
The Palisade continues to sell well among all SUVs. From May last year to April this year, it ranked third behind the Kia Sorento (69,432) and Sportage (65,558).
When looking at the gender and age of buyers, the proportion of people in their 40s and 50s with children exceeded 60 percent, and the proportion of male purchases (84.1 percent) was much higher than that of women (15.9 percent). The Explorer has proven to be the most popular large SUV in Korea, and its value as a family car is also evident.
Ford Explorer/Photo=Ford Korea
The Palisade is considered by consumers to be a large SUV with a good price-performance ratio. This sentiment is shared in online communities and seems to be driving the Palisade’s continued popularity.
One Palisade owner wrote스포츠토토, “While not all of the specs are the best compared to competing SUVs, it is a vehicle that is cheaper than imported SUVs and can satisfy with its spacious interior and high product quality.” Another added that the Palisade “rides well, and most importantly, is cheap to repair.”
The Palisade has been Hyundai’s best-selling SUV since its launch in 2018. Last year, the Palisade sold 49,737 units in Korea, surpassing the Tucson, Santa Fe, and Casper.
In particular, it led the Korean large SUV craze with its spaciousness and various convenience features. Ford’s large SUV Explorer peaked at 11,586 units per year in Korea in 2018, before the launch of the Palisade, but sales plummeted to 8,737 units in 2019, shortly after the Palisade’s launch.
One of the reasons for the Palisade’s popularity is its price. The new Palisade is priced at $38.67 million for the base Exclusive trim and $50.69 million for the Calligraphy trim for the gasoline 3.8 model. The diesel 2.2 model costs $40.17 million and $52.19 million for the Exclusive and Calligraphy trims, respectively.
Compared to the base trim of the Traverse, which starts at 55.67 million won, and the Explorer, which starts at 63.1 million won, the base trim of the Palisade is about 17 million to 25 million won cheaper. Even the Palisade’s top trim, Calligraphy, is cheaper than the base trim of imported SUVs. The full Calligraphy option for the Palisade gasoline model costs about 60 million won, which is also lower than the base trim of the Explorer.
“Despite the price increase as the Palisade has undergone a facelift, 67.1 percent of Palisade buyers have opted for the top-of-the-line Calligraphy,” said a Kaiser data representative, adding, “Four in 10 new Palisade buyers are opting for the all-wheel drive option.”