Hyundai Motor Company has been one of the world’s largest automakers for a long time, outselling global giants like Ford, Honda and Nissan year after year. But, the South Korean manufacturer has been mostly focused on building quality and reliable vehicles at an affordable price.
The company is looking to change that now, as it has finally decided to have a go at the luxury car market. Hyundai has announced that it is entering the luxury car segment, creating a separate luxury brand, following in the footsteps of the likes of Toyota, Nissan and Honda. Hyundai has decided to convert its existing nameplate Genesis into a luxury division, with plans to launch six new models by the end of the decade under this brand.
With this move, Hyundai wants to have a better chance of competing against the luxury brands created by some of its Japanese counterparts, such as Toyota’s Lexus, Honda’s Acura and Nissan’s Infiniti, as well as the traditional leaders in this segment like BMW, Audi and Mercedes-Benz.
“We have created this new Genesis brand with a complete focus on our customers who want smart ownership experiences that save time and effort, with practical innovations that enhance satisfaction. The Genesis brand will fulfill these expectations, becoming a market leader through our human-centered brand strategy,” said Euisun Chung, Hyundai Motor Company Vice Chairman, in a statement.
In order to make the new brand more distinctive and underline the fact that it’s a stand-alone brand that is separate from the other models sold under the Hyundai nameplate, the South Korean car maker will give a new emblem to all future Genesis models, which will be a slightly modified version of the emblem that the Genesis currently has.
As far as the names of the Genesis models, Hyundai will use a similar system used by other luxury-car makers. It will use an alphanumeric system, with the names of all future models to start with a “G” that stands for Genesis, followed by a number, such as 90, 80, 70, referring to different segments. The first model launched under this brand is expected to be a sedan, named G90, and it is supposed to go on sale in 2017. In addition to the sedan, the Genesis lineup will likely feature a coupe and an SUV.
Obviously, the Genesis models will be outfitted with numerous sophisticated and advanced safety and convenience features, even though Hyundai notes that it will not be packed with high-tech features like most other luxury brands.
“Genesis models will boast outstanding driving dynamics and design, with innovations tailored to closely-meet the needs of customers. The new model line-up will distance itself from the traditional technological overload of brand-focused competitors, concentrating instead on a personalized, hassle-free customer experience,” says Hyundai in a press release.
With the launch of a separate luxury division, Hyundai clearly tries to branch out of the non-premium segment and try to tap into the growing luxury car segment, which offers an opportunity for higher profits, and that’s exactly what the South Korean automaker needs at the moment.