Could a separte Hyundai Genesis brand put some hurt on Toyota's Lexus?
It’s no secret that the 2009 Genesis sedan was supposed to be the first of a separate, premium Hyundai brand marketed under its own banner like Lexus, Infiniti and Acura. At the time though, the Korean automaker’s dealers had individually just spent millions on upgrading their dealerships, and balked at further capital expenditures on an unproven strategy.
"Sectioning off the brand, that's the Holy Grail," said Hyundai Motors USA CEO John Krafcik to Ward's Auto.
Instead of costly, stand-alone facilities, though, the idea is a more cost effective approach. Like roping off a corner of existing Hyundai showrooms, creating “physical and psychological separation.”
The plan is to use the launch of the forthcoming 2010 Equus full-size sedan to “develop and further establish Hyundai as a legitimate force in the premium-luxury segments."
Do you think Hyundai’s new chutzpah is warranted?
Are the current and planned for Genesis products (and maybe a luxury version of a new Santa Fe to take on the Lexus RX) good enough to be considered alongside the existing Japanese premium brands?
[Source; Ward’s Automotive]