Why is Hyundai-Kia launching a Premium brand?
- For several years, given the continued growth in Premium brand sales worldwide, the Hyundai-Kia group plans to create its own premium brand, like the Toyota group, Honda group or Renault-Nissan group.
- The Korean group has decided to make the move by creating in 2016 the Genesis brand that will try not only to affirm its leading position in the Korean market, but also fight among other Asian brands like Lexus, Acura and Infiniti, mainly in the US market (the world's largest market for Asian premium brands).
- Tackle head on brands such as Audi, BMW and Mercedes (the first three premium brands in terms of global sales) will be more difficult, because these German brands are well established both in Europe, China and the US and have an extremely large range of models (sedans, limousines, station wagons, SUVs, minivans, coupes, convertibles), while the Genesis range will launch with only two models : a G80 sedan (segment E) and a G90 limousine (segment F). Competing with other brands like Volvo, Jaguar, Lincoln or Cadillac will be easier for Genesis, but it requires that the range can be considered legitimate on the world market and that it can develop quickly. Genesis would be preparing a G70 sedan (D-segment) and its SUV version that could be called GX70. Remember that the Genesis model already exists under the Hyundai brand since January 2008.
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