Hyndai unveils new Sonata.

(From The Korea Herald)

By Kim Tae-gyun Hyundai Motor Co., Korea's largest automaker, yesterday introduced a redesigned version of its top-selling Sonata sedan, declaring the midsize car as the flagship model for its plan to join the global top- five carmakers by 2010. "This new sedan is the centerpiece of our efforts to produce world- class cars. It will be the turning point for our company," said Kim Dong-jin, Hyundai's vice chairman and chief executive officer, during the ceremony at Grand Hilton Seoul, yesterday. The new Sonata is the fifth generation of the popular midsize model that was introduced here in 1985. Aside from the name, the car appears completely different from previous Sonata incarnations. The carmaker spent 290 billion won to replace all major features including engine and overall design. "It is obviously one notch up from the current EF Sonata model. The new version is far better equipped to compete in overseas markets than previous Sonata sedans," said Park Sung-jin, auto analyst at Woori Securities. Hyundai expects to sell 300,000 new Sonatas at home and abroad each year. The officials said the sedan will play a crucial role in its campaign to become one of the top-five players on the global market. "Just like Honda's Accord, we need a time-tested product name that leads the company's reputation on overseas markets. We will make every effort to develop the Sonata as our flagship brand worldwide," said Lee Jong-woo, Hyundai's marketing director. The unveiling also suggests the carmaker's strategy shift to upper segments. The officials said the company wants to ...