The Hyundai-Kia group launches its Genesis brand in Europe
- The Hyundai-Kia group has decided to launch Genesis, its Premium brand on the European market, whereas until now this Premium brand was only available in the United States, Canada, Korea, the Middle East, Australia and in Russia. Genesis intends to become valuable in this category, just like Japanese brands like Lexus, Infiniti and Acura, and of course traditional European brands like Mercedes, BMW and Audi.
- The challenge will be difficult because it is not easy to impose a new Premium brand on a market as competitive as the European market where these historical brands have been well established for several decades. Infiniti (Nissan's Premium brand) failed in this attempt, surely because this firm has failed to differentiate itself clearly from its competitors, either in terms of design or in terms of technologies. Tesla and Lexus have imposed themselves against the Europeans brands thanks to their technological differentiation, the hybrid for Lexus and the battery electric technology for Tesla.
- Infiniti did not brought added value also compared to Lexus and Tesla. As for Acura (Honda's Premium brand), Honda preferred to never proposed it in Europe. Genesis is going to have to bring something new, and at the moment it's not clear what it could bring. Its current lineup consists of traditional sedans, like the G70, G80 and G90 of different sizes, and classic SUVs, like the GV70 and GV80. The brand's global production did not exceed 137,000 units in 2020, compared to 74,000 in 2019, far from the figures reached by Lexus (720,000), Tesla (500,000) and the European Premium brands.
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