Posted on Monday 17 March 2008
A Hyundai exec has revealed that by 2010 the Korean carmaker will launch its own separate luxury division complete with a new name and logo. The new luxury brand will initially be launched in the Chinese market but depending on how successful it is, officials may eventually expand the label into more established markets where it could potentially upset current second-tier luxury brands such as Infiniti and Acura.
The information comes from Hyundai sales exec Young-Key Koo who spoke recently with China Daily. “In 2010, we will officially launch our luxury brand name and logo along the lines of Toyota’s Lexus, Nissan’s Infiniti and Honda’s Acura. All of our luxury models will have the new badge.” Koo explained.
Koo also revealed that Hyundai will launch two new luxury models in China next year to join the current Genesis sedan, which goes on sale later this year. “In October, we will bring a new sports car called the BK to China, replacing the locally made Coupe,” he said. The second model will be a new flagship sedan with a 4.8L V8 engine, which will arrive in the first half of next year. This will be followed by a new crossover model as well.
After that, Hyundai plans to launch even more premium models. “Then we will keep the pace of introducing one or two new luxury models every year to reinforce our premium brand image. We have the same strategy as our Japanese rivals,” Koo revealed.
Despite making great strides lately & having many fanatics screaming their praises, Hyundai sales have been going down & if not for fleet sales, the Sonata (which should be the bread & butter of the brand) would be selling a lot worse.
If the economy continues to make a turn for the worse, maybe a cheaper luxury brand will do well in America?
the stigma of owning a Hyundai will still be in the air….regardless of the badge on it ! look how long it took for Lexus to become a mainstream brand and accepted properly as it was always labeled a rebadged Toyota. Im one of the lucky ones in that my Kluger (highlander) is the other way around and is a rebadged RX330