Car­maker aims to ce­ment brand’s place in lux­ury seg­ment, sell 60,000 units an­nu­ally

New Straits Times - - Business / World -

SOUTH Korea’s Hyundai Mo­tor Co launched its first new sedan un­der the premium Gen­e­sis mar­que, here, yes­ter­day, hop­ing to ce­ment the brand’s place in the lux­ury seg­ment and make up for its lack of a strong sport util­ity ve­hi­cle (SUV) line-up.

United States singer Gwen Ste­fani per­formed for about 10,000 peo­ple at a gala event to launch the G70, the third sedan to carry Gen­e­sis name, but the first to be mar­keted un­der Hyundai Mo­tor’s fledg­ling premium brand.

Start­ing from US$33,000 (RM138,270), the sporty four­door offers bang for the buck as it takes on ri­vals, in­clud­ing af­fil­i­ate Kia Mo­tor’s Stinger sedan and BMW’s 3 se­ries.

But an­a­lysts said the G70 would not solve Hyundai Mo­tor’s trou­bles in the US, where SUVs were all the rage and the pre­vi­ous Ge­n­e­sis­branded sedans failed to take off.

Hyundai ex­pects an an­nual sales of more than 60,000 G70 sedans glob­ally.

It said the Gen­e­sis line-up would grow to six by 2021.

Gen­e­sis di­vi­sion head Man­fred Fitzger­ald said the next Gen­e­sis model would be an SUV, with­out elab­o­rat­ing fur­ther.


The G70 is the third sedan to carry the Gen­e­sis name but the first to be mar­keted un­der the Hyundai Mo­tor’s fledg­ling premium brand

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