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Hyundai Overwhelmed by Initial Veracruz Sales

Hyundai's U.S. operation is learning that premium SUV buyers would rather paya little more for a lot more luxury, which is why the company is being overwhelmed by the initial take rate on its priciest Veracruz Limited model.

"We underestimated demand for the premium trim level on the Veracruz," said John Krafcik, product development chief for Hyundai North America told Automotive News in an interview, adding that dealers are experiencing shortages of the new model.

The Veracruz, which just went head-to-head with Lexus RX 350 in a comparison review as seen in this month's Motor Trend magazine (somebody had to do it), and won, is obviously targeting the best-selling benchmark luxury SUV, and together with the Azera luxury sedan is changing the buyers perceive a brand best known for value and a superb warranty

Offering plenty of value for the money, Hyundai's first luxury crossover is almost too popular. (Photo: Hyundai)

(the powertrain warranty runs for 10 years, 160,000 miles).

Prices for the Veracruz start under $27,000 and range to approximately $38,000 for the top-line Limited model.