Hyundai Motor will launch its first midsize sports sedan under the Genesis brand in South Korea next week and in the U.S. early next year, the latest attempt by the emerging Korean luxury brand to challenge BMW’s 3 series and other European premium cars.
The emerging Korean luxury brand however has no immediate plan to launch the Genesis brand in Europe or China. China has been particularly a tough market for Hyundai Motor this year with nosediving sales and supply disruptions amid diplomatic tensions between the two countries.
“We will definitely go to China but we cannot give you exact date yet,” Manfred Fitzgerald, Head of Genesis Division, told reporters Friday. “We have to be well prepared as a brand. You have to be present there before going there.”
In late 2015, Hyundai Motor launched Genesis as a separate premium brand in a bid to improve the reputation of a brand long associated with vehicles that are cheap but durable enough to be a good value for the money. With Genesis, Hyundai followed other Japanese car brands’ footsteps, such as Toyota’s Lexus and Nissan’s…
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