Hyundai Motor Co. is reducing production of its Porter truck by 24% compared to last year’s target. This decision comes as sales of the “national truck” have slowed, compounded by the introduction of competing models like Kia’s purpose-built vehicles (PBVs). Hyundai aims to produce 80,000 Porters this year, down from a target of 105,600 units last year. Actual production in 2024 reached 82,570 units.
The decline in Porter sales is significant. In 2024, Hyundai sold 69,267 Porters, a 29% drop from the 97,675 units sold in 2023. This downward trend continued into the first quarter of this year, with sales falling by over 5,000 units to 14,157 compared to 19,314 units in the same period of 2023. The Porter EV has been particularly affected, with sales plummeting to 11,212 units last year from 25,799 units in 2023. An industry insider commented, “Most commercial 1-ton trucks travel more than 200 kilometers per day, and since time directly translates to profitability, buyers are hesitant to purchase EVs that require multiple charges a day.”
The market is also evolving with the arrival of new commercial vehicle options. Hyundai introduced the Staria-based ST1 commercial model last year, and Kia plans to launch PBVs like the PV5 this year, expanding choices for business users.
Hyundai is responding to these challenges with a complete Porter redesign planned for 2027. The new model, to be produced at the Jeonju plant, will incorporate a “semi-bonnet” design for improved collision safety. An industry insider explained, “We are designing a bonnet that can absorb impact in the event of an accident while also maintaining the loading capacity essential for commercial vehicles.”
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