HYUNDAI UNVEILS GENESIS G70 SEDAN
Carmaker aims to cement brand’s place in luxury segment, sell 60,000 units annually
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