One of Hyundai’s top executives revealed to Antara News reporters that the low-cost model is in development and is aimed at rivals such as Renault’s Logan. "Development is under way to produce an ultra-cheap car," said Hyundai Vice Chairman Kim Dong-jin at a recent event in Seoul. "Foreign rivals such as Renault are developing a low-cost model priced below US$10,000", referring to the Logan, a car Hyundai’s hopes to beat.
Hyundai is also rumored to be readying a new premium line to rival brands like Lexus and Infiniti. Analysts believe Hyundai would benefit greatly from selling lower volume high-end models because inventory levels are rising due to a strengthening Korean currency.