Hyundai, best known for compact vehicles and mid-size SUV crossovers, is eyeing a new market—tough-looking trucks for off-roading.
At the LA Auto Show in November, Hyundai unveiled its “adventure vehicle,” which could fit a gap in its lineup. Called the “Crater Concept,” it was inspired by the automaker’s existing XRT vehicles, which is Hyundai’s line of special edition SUVs designed for rougher territory and light off-roading.
“It’s purely a design exercise at this point in time, but we’re trying to gauge media and consumer interest to see what people think about Hyundai moving into more off-roading,” Randy Parker, chief executive of Hyundai Motor America, told the Business Journal.
It was conceived earlier this year in Irvine at the Hyundai America Technical Center (HATCI). Parker said the company wants its vehicle designers to be locally based to have a good understanding of American consumer trends.
“The Crater Concept, I think, will give you an indication of where we think we may want to go in the future,” Parker added.
Currently, Hyundai only has a combination of a truck and SUV called the Santa Cruz. The company is planning to unveil a midsize truck in 2030, Hyundai Motor Company CEO José Muñoz said during its investor day in September.
“The question is, what is that truck going to look like? So, this is why we do Crater concepts, just to gage consumer reaction and sentiment and see what people say and think,” Parker said. “The sky’s the limit.”
Hyundai Motor America, which has its headquarters in Fountain Valley, is having another record year as total vehicle sales are up 8% to 822,756 vehicles year to date as of November. Excluding its sister companies Kia and Genesis, Hyundai is generally ranked the fifth largest seller in the U.S. with a 6% market share, according to market analysis.
“To me, there’s two things that you got to do well in selling automobiles in the United States,” Parker said.
“Number one, you got to take very good care of your customer. And number two, you’ve got to take very good care of your dealer partners. And if you do those two things, well, no matter what’s happening in the marketplace, no matter what comes out of left field, I feel like you give yourself a chance and you’re going to always land in a really good spot.”
The EV War
Ford Motor last week made international headlines when it announced $19.5 billion in charges, mainly to write off its electric vehicle business amid sinking EV demand.
Since the Inflation Reduction Act (IRA) and the related tax credit for EVs expired in September, Parker said the company is pivoting to match what he says is a market shift toward hybrid.
November marked the automaker’s best month of hybrid vehicle sales of all time, reporting a 42% jump compared to a year ago.
Hyundai hybrids are currently made in Alabama and South Korea, where the parent group is headquartered. Parker said that Hyundai’s Palisade hybrid, a three-row SUV, is one of the top-selling models, so the automaker is trying to produce more.
The company is planning to start building hybrid vehicles in late 2026 at the company’s newest manufacturing plant in Georgia, which is currently producing the Ioniq 5 and the Ioniq 9 electric vehicles.
“We’re moving at warp speed to take care of the customer, but at the end of the day, we want to meet the customer on their journey to electrification,” Parker said, adding that buying hybrid is a good first step.
“Again, we know that the market has shifted, but there was an EV market before IRA, and there’s going to be an EV market after IRA,” he said. “And so, we’re going to keep our foot on the accelerator—pun intended—and continue to invest in American manufacturing.”
The CEO added that Hyundai won’t stop investing or marketing its EVs despite market conditions.
“We know that consumers want choice, but the good news from a Hyundai perspective is that we’ve got a seat for every purse.”
At the LA Auto Show in November, Hyundai also debuted its upcoming EV, the new Ioniq 6 N sedan. Only limited quantities will be delivered in 2026.
“The Ioniq 6 rounds out the high-performance N brand for our EVs,” Parker said.
Hyundai debuted the Ioniq 5 N as its first electric vehicle in 2020. In 2025, about 59,500 Ioniq models were sold as of November.
Not Done Yet
Parker joined Hyundai in 2019 and was later appointed Hyundai Motor America chief executive in 2022. In January, he succeeded Muñoz as the CEO of Hyundai and Genesis Motor North America.
Parker, who resides in Huntington Beach, oversees 12,380 employees in sales and manufacturing for North America, including Canada and Mexico. Hyundai operates 850 independent dealers.
Both Hyundai and Genesis, the company’s luxury division, contribute about 30% to the parent company’s global sales, according to Parker.
“It wasn’t always like that when I first joined the company,” he said. “The company is very dependent on our success in in the U.S. and particularly in North America, and so it’s a huge responsibility.”
Hyundai Motor Group recently celebrated the trade deal made by the U.S. and Korea to lower the tariffs on vehicles imported from South Korea to 15%, effective in November.
Parker has had a long career in the automobile industry, having started in 1999 at General Motors and then stints at Nissan Motor Corp. and Infiniti Motor Co. until making his way to Hyundai.
“It’s been a great ride and I’m not done yet. I feel like I’m just getting started,” he said.
