The ‘Cheapest New SUV’ Title Isn’t Helping the Hyundai Venue
The 2024 Hyundai Venue’s $19,900 MSRP makes it the cheapst SUV on the market and one of the most affordable new cars available. Amid a steady rise in the prices of everything from apples to cars, it’s expected the Venue’s title of cheapest SUV would help garner sales. But that hasn’t been the case as of late. The Venue’s popularity among buyers is in a freefall.
Hyundai sold 1,435 Venues in January, a 41-percent drop from January 2023. It was the worst-selling combustion car or truck across the automaker’s lineup. It only outsold the Ioniq 6 EV sedan and the Nexo, which is powered by a hydrogen fuel cell and only available in California.
The Venue’s January decline continues a notable drop off in sales of the model beginning in late 2023. December sales were down 51 percent year-over-year, and down 31 percent for the final quarter of the year against 2022. November monthly sales showed a 34-percent decline.
A bright spot for the Venue as of late is 2023 annual sales were up three percent despite the significant decline in the latter part of the year. The Venue was one of the best-selling cars/SUVs under $20,000 in 2023 with over 28,000 units sold. It significantly trailed the Kia Forte sedan for sales but beat out the Nissan Versa and Mitsubishi Mirage.
It’s not clear if inventory issues are partly to blame for the Venue’s recent slide in courting buyers. Hyundai hasn’t announced any such issues publicly.
It’s not necessarily reviews, either. The Venue doesn’t receive glowing praise, but most automotive experts agree it’s worth a look for those shopping the subcompact SUV segment with an emphasis on affordability and value.
Car and Driver and Edmunds place the Venue in the midpack of its class. Both publications praise the Venue’s value and spaciousness despite its small footprint. But performance from its 121-horsepower four-cylinder, expectedly, leaves room for improvement.
The Venue hasn’t undergone many significant changes since debuting for the 2019 model year. That trend continues with the 2024 Venue. Second-row dual USB charge ports are now standard on the midgrade SEL and top-spec Limited. All models now feature a six-speaker audio system. The SEL now comes standard with a proximity key and push-button start, previously only standard on the top model.
Pricing for the 2024 Venue starts at $19,900 MSRP and tops out at $23,150 for the Limited. There are just a few options available, which is typical of the subcompact class.