It's definitely the upcoming Veloster. It's the same height has the BMW 3-series beside it. They've been testing those pre-production models for a few months now. If you believe the rumors, it's meant to replace the now retired Tiburon ... it may even take its name. With the success of the of the Genesis Coupe, I think it's a smart move for Hyundai to introduce a sporty hatch instead of a 2-door mini coupe.
With the Hyundai in the foreground and the BMW in the background there is simply no way to assert that the two vehicles are the same height based on the photo alone. If they're side-by-side and you're looking straigh at them, different story.
And all this presupposes that the clad vehicle is in fact a Hyundai - which is far from clear. Yes, the wheel look Hyundai-ish - which would also make perfect disguise for a completely non-Hyundai vehicle. Didn't VW recently put a Toyota logo on a Jetta test mule?
And even if it is a Hyundai, and even if it is the new "Veloster", you still really can't see anything of the vehicle itself - hence, no reason that I can see for applause, cartwheels or high-fives.
Jaeger