Hyundai Motor, the country’s top carmaker, said Tuesday it will launch its popular Sonata hybrid in the Latin American market this year, with the first vehicles to be sent to Ecuador.

Approximately 3.42 million new cars are expected to be sold in the Latin American market this year, with 3,500 to be hybrids.

“The hybrid market is not that large, but these cars are viewed as being high-tech by consumers, so by selling the Sonata HEV, Hyundai aims to improve its brand value that can spill over into overall vehicle sales,” the company said in a press release.

It said the midsize cars to be sent to Ecuador are equipped with a newly developed hybrid power control unit that is better suited for mountainous conditions. The car also maintains a fuel economy of 16.8 kilometers on a liter of gasoline in the combined driving mode.

Hyundai said that besides Ecuador, it plans to ship to Chile, Columbia and the Bahamas within the year. For this year, it expects to sell 150 cars in the region, and depending on the response of consumers, expand the hybrid lineup to enhance consumer choice.

Hyundai and its sister company, Kia Motors, currently build the Sonata, K5, Grandeur and K7 hybrids, with a hybrid electric vehicle model of the brand-new 2015 Sonata currently being developed.

Regarding foreign sales, the Sonata HEV alone accounted for 62.2 percent of the total, or 72,460 units.

Hyundai and Kia rank third in terms of hybrid vehicle sales in the U.S. after Toyota and Ford.

The company said with the introduction of new models, there has been a steady increase in sales.

The two companies made their first foray into the hybrid market when they launched the Avante and Forte models in 2009. (Yonhap)