Hyundai Motor said on Friday it had received close to 3,500 orders for its newly launched Palisade flagship SUV on the first day of pre-orders.

The new SUV, which replaces the Veracruz which was discontinued in 2015, was unveiled at the Los Angeles Auto Show.  

The company said it would take domestic pre-orders for the new SUV until 10 December. Prices for the 4×2 models start at KRW42m (US$37,000), rising to KRW50m for all the options, while pries for the all wheel drive models have not yet been finalised.

Domestic deliveries are scheduled to begin later in December, with the overseas roll out will begin next year.

The Palisade, named after Pacific Palisades, an affluent neighborhood in Los Angeles, comes with a choice of 2.2-litre diesel and 2.8-litre petrol engines and an eight-speed automatic transmission.

The company hopes the new SUV will help strengthen its sales in key overseas markets, particularly in the US where sales have been declining.

US deliveries are expected to start in mid-2019, where it will be sold alongside the recently launched Santa Fe, Tucson and Kona subcompact SUVs.