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(LEAD) Hyundai to launch new large-size SUV next month

All Headlines 10:49 October 11, 2018

(ATTN: ADDS new SUV's reported name in 3rd para; ADDS new info in 5th para)

SEOUL, Oct. 11 (Yonhap) -- Hyundai Motor Co., South Korea's largest carmaker by sales, said Thursday it plans to launch a new large sport utility vehicle in the domestic market next month to boost sales.

Hyundai Motor expects the new SUV, which had the project name "HDC-2 Grand Master Concept," will compete with upcoming SUV rivals such as Kia Motors Corp.'s Telluride and GM Korea Co.'s Traverse, a company spokesman said over the phone.

Hyundai has not finalized the name of the new SUV, though it has been referred to as the 'Palisade' in local media reports, he said.

To strengthen its presence in the competitive SUV market, Hyundai plans to launch the GV80, the first SUV model of its luxury Genesis lineup, next year.

The carmaker currently sells the midsize Santa Fe, the compact Tucson and small Kona crossovers.

In the January-September period, Hyundai sold 3.36 million vehicles, up 2.7 percent from 3.27 million units a year earlier.

In this photo taken on June 8, 2018, Hyundai Motor's HDC-2 Grand Master Concept is displayed at the carmaker's booth at the biennial Busan motor show held at BEXCO hall in Busan, 450 kilometers south of Seoul. (Yonhap)

kyongae.choi@yna.co.kr
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