Hyundai Veloster heads for Detroit auto show

The reveal of the 2012 Hyundai Veloster has become something of an Elvis sighting, with reports pegging its introduction at seemingly every auto show on the circuit this year.

On Friday, CEO John Krafcik removed all doubt: The car will debut in January in Detroit.

The Veloster will arrive next year and will be one of four Hyundais rated at 40 mpg or better, clicking off an estimated 41 mpg. It will also be joined by a restyled 2012 Accent making 42 mpg. The 2011 hybrid Sonata makes 40 mpg.

The fourth car will be the 2011 Elantra, which has been dramatically upgraded and will be revealed next week at the Los Angeles auto show. The Elantra will be rated at 40 mpg on the highway, 29 mpg in the city. Full details will arrive at the show.

It's all part of Hyundai's goal of reaching a self-imposed milestone of 50 mpg fleetwide by 2025 based on CAFE standards, though the numbers are factored differently (and result in higher fuel-economy figures) than using EPA calculations.

The Veloster was first shown in 2007 as a concept in Seoul. It's a hatchback layout. Hyundai briefly showed a partially covered Veloster at a press event in Ann Arbor, Mich., and it's been the subject of a range of spy photography.

Meanwhile, Krafcik said strong sales of the Sonata and the Tucson are propelling Hyundai to its best year ever, and the brand will finish with better than 500,000 sales and 4.8 percent market share in the United States. The sculpted Sonata sedan is expected to pass 200,000 sales.

"That was not in our wildest dreams," Krafcik said.

The Sonata is among the most cross-shopped vehicles in the industry and is credited with raising the median income of Hyundai's customers. Additionally, about 30 percent of Sonatas are expected to be turbos.

"It's a great story that shows the potential for sales growth that Hyundai has," Krafcik said.

The flagship Equus sedan launches on Dec. 1 and will be slotted above the Genesis. About 100 dealers have signed up to sell the car, and that has had the unintended result of dealerships upgrading the rest of their facilities as they try to create a luxury feel.