Hyundai Motor America will launch the Tucson compact SUV in July at a price between $17,000 and $22,000, Hyundai Motor America CEO Bob Cosmai said.
Hyundai is hoping for sales of 18,000 units this year and between 40,000 and 50,000 per year after that. Hyundai will hit the TV airwaves this summer during the Olympics to push the Tucson and will advertise the vehicle in more than 30 magazines.
Cosmai would not say how much Hyundai will spend to launch the vehicle this summer.
The addition of the Tucson, which is about the size of a Pontiac Vibe, will enable Hyundai to move the Santa Fe SUV upmarket by offering more equipment and a bigger engine. Cosmai said Hyundai will drop the four-cylinder base model of the Santa Fe this summer.
The Tucson will be offered with two engines. The base GL model uses the 140-hp, 2.0-liter overhead-cam engine from the Tiburon sport coupe. GLS and LX models will come with Hyundai's 173-hp, 2.7-liter V-6.
The base four-cylinder GL will be available with a five-speed manual transmission, but the V-6 will be offered only with an automatic. Four-wheel drive will be optional on both engines and all models.
Tucson's main competitors will be the Honda CR-V and Toyota RAV4, neither of which offer a V-6. The Ford Escape, the best-selling compact SUV, does have an optional V-6.