Hyundai Looking Into Separate Luxury Brand
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It started with the Genesis sedan, followed by the Genesis Coupe and Equus. The brand once thought of as cheap and not so cheerful is moving up the market rather quickly.
According to a report in The Wall Street Journal, Hyundai isn’t done reworking its image. Hyundai USA head John Krafcik told the WSJ that the company is considering a separate luxury brand, possibly named Genesis, for its premium models, such as Toyota does with Lexus and Honda with Acura.
Krafcik said that there are three options for the Korean automaker. The first is to create a separate dealer network to sell these premium models, but this option would be very expensive. The second option would create a premium wing on current Hyundai dealers. Those who have been to a Toyota-Lexus showroom will understand this concept. Finally, the company is also looking at keeping its current setup, but with one trained salesperson for the Genesis line, similar to what Mercedes-Benz do with their AMG models.
Whatever they end up doing, chances are it won’t happen for some time. Hyundai will be monitoring the success of the Equus sedan in the United States before making any more moves.
"One of the keys to this plan is how well the Equus does," Mr. Krafcik said to the WSJ. "We don't need to make a decision for some time" on the branding question.
[The Wall Street Journal]
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