Hyundai’s Going To Go Upscale
Hyundai is all set to launch a separate luxury brand in 2010 with a brand new name and logo. This will be taking a leaf out of the same concept started by car manufacturers Toyota, Nissan and Honda that have launched luxury counterparts called Lexus, Infiniti and Acura respectively.
Chief Representative of Hyundai Motor, China for sales and marketing, Young-Key Koo, has stated that this luxury car brand will be launched in China, unlike those by the other car manufacturers that started out in the US. The success of this venture will determine the subsequent steps taken to launch this brand in other countries.
Koo also revealed further plans for Hyundai. After the Genesis Sedan that will be out for sale later this year, Hyundai has two more luxury models lined up. These include a new sports car called BK which will be released in China to replace their locally made coupe, this is expected in October. The second vehicle will be a spanking new sedan with a 4.8 liter V8 engine. This will be out in the first half of next year followed by one more crossover model.
Koo specified that despite starting a separate luxury brand, Hyundai will not be seen as a down-market commonplace car maker. To assure this, Hyundai plans to stop the sale of their car Matrix MPV as they believe that this particular car attracts average customers, while Hyundai is planning to position itself as a high end brand.
With a well cut out strategy, Hyundai plans to keep a pace with its Japanese rivals and reinforce its luxury car maker tag and aim to launch at least one or two luxury vehicles annually.
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