Speaking with Edmunds, Hyundai’s John Krafcik confirmed that a new compact sports car will be released by the end of 2011 and that a name is yet to be picked though Veloster and Tiburon are being considered.
The comments contradict earlier speculation that the Tiburon was being scrapped in favor of the current Genesis Coupe. Instead the two models will be going after different market segments, with the Tiburon replacement to be positioned below the current model.
Krafcik explained that the new model "will have a lower price point, kind of eco sport positioning, where it is not going to be all about performance." Repositioning the car will ensure that Hyundai won’t be cannibalizing its own sales by having two similar cars, the Tiburon and the Genesis Coupe, in similar segments.
As for the styling of the new model, Krafcik revealed designers will be looking to the Veloster concept shown at 2007's Seoul Auto Show for inspiration and that 70-80% of the concept car's lines may transfer to the production version. The design briefing will focus around making the replacement Tiburon "very stylish", as well as "very fuel efficient," he explained.
The car will be FWD, and will also be significantly smaller and lighter than the current model. As for the powertrain, Krafcik said "it'll be powered by a 1.6-liter four cylinder with direct injection making 140hp. And it'll get over 40mpg".