New Hyundai Elantra sold out

Hyundai Australia has made an urgent call for more Elantra sedans after the first shipment sold out in its first few weeks on sale.

The all-new model arrived in Australian showrooms in the first week of June with a starting price of $20,590 plus on-roads (the same as the previous model). All have been snapped up.

The next boatload of cars is not due to dock until mid-July. By the time the vehicles are transported from ports to individual dealers it will likely be the end of July before fresh stock arrives in showrooms.

"The small-car market's hot right now, we could sell almost twice as many [Elantras] if we could get stock," Hyundai Australia director of sales Damien Meredith told the Carsales Network at the media preview of the vehicle in Canberra overnight. "We are constrained by supply."

Because of global demand, Australia will receive an average of just 650 Elantras per month – but Meredith says there is demand for 1200 per month.

"At the moment we're looking at the end of July to replenish stock," he said. "On the one hand it's a good situation to be in but we don't want to keep our customers waiting. We're doing the best we can to get more."

Hyundai Australia director of marketing Oliver Mann said: "The key issue is supply. Globally Hyundai is running at full capacity both with Elantra and [other models]. We will be supply-constrained for some time.

"The runout of Elantra was carefully managed with the new car in mind, we haven't really had a gap. There a very few [old] Elantras in stock."

The Elantra's 1.8-litre four-cylinder engine has more power than the similarly-sized i30 hatch – even though that model is powered by a bigger, 2.0-litre engine (110kW versus 105kW).

The Elantra is the first all-new 'ground-up' car from the Korean maker for several years and its core structure will underpin several models in Hyundai's future, including possibly a sleek coupe and small wagon.

Meanwhile with the Getz city hatch about to be phased out, the Elantra will become one of the biggest selling models for Hyundai locally.

"With Getz out of the picture, the i30 will be our biggest seller ahead of the ix35, but the Elantra won't be far behind," said Mann.

Hyundai Australia expects to post its third record year in a row with four new models – including the just-released Elantra – due in the next six months. The company expects to have sold 42,000 cars by June 30 and, by year's end, forecasts it will eclipse its record of 80,000 sales set last year.

The Elantra will provide a boost to Hyundai's small car range given that hatchbacks account for 55 per cent of sales and sedans account for 40 per cent (wagons make up the remainder).

"Elantra is an important car for us," said Mann. "We have become successful with i30, and Elantra is an opportunity to become as successful in sedans as we have in hatches. [Volume] won't happen this year, but perhaps next year."

Visit the Carsales Network again in the next 24 hours for drive impressions of new the Hyundai Elantra.

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