(LEAD) Hyundai aims to sell 120,000 units of new Grandeur by 2023

(ATTN: UPDATES throughout with details; CHANGES headline; ADDS 2nd photo)

SEOUL, Nov. 14 (Yonhap) -- South Korea's Hyundai Motor Co. said Monday it is targeting to sell more than 120,000 units of the all-new Grandeur sedan in the domestic market by the end of 2023.

Hyundai will begin to sell the seventh-generation Grandeur, the first fully revamped model in six years, in Korea on Tuesday, the company said in a statement.

It aims to sell 11,000 units this year and 119,000 units next year. The company has already received 109,000 preorders from local customers.

The new Grandeur comes with a 1.6-liter gasoline hybrid engine, a 2.5 gasoline engine, a 3.5 gasoline engine or a 3.5 liquefied petroleum gas engine, the statement said.

It is equipped with 10 air bags and safety features, such as the front collision avoidance, highway driving assist, reverse parking collision avoidance and remote smart parking assist systems.

The new model adopts Hyundai's next-generation design direction, Sensuous Sportiness, which is defined by the harmony among four fundamental elements in vehicle design -- proportion, architecture, styling and technology.

It is priced at 37 million won to 46 million won (US$28,000-$35,000).

Hyundai first placed the Grandeur sedan in the local market in 1986 and it has long been accepted as one of the carmaker's representative models.

kyongae.choi@yna.co.kr
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