Hyundai to Launch Luxury Brand in 2010
03-17-08, 11:32 AM
#1
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Hyundai to Launch Luxury Brand in 2010
Hyundai to Launch Luxury Brand in 2010
Posted on: March 17th, 2008
Filed under: Industry News, Hyundai
Hyundai to launch luxury brand in 2010 'along the lines of Toyota's Lexus'
Hyundai is enjoying booming success in China. The Korean automaker sold 24,000 vehicles in China so far in 2007, an increase of 11 percent over 2006. Hyundai was also the number 2 auto brand in the first half of 2008, falling behind its Japanese rival Toyota.
Currently Hyundai imports five models to China including the Elantra and Sonata. Later this year Hyundai will add two more model to its China lineup with the new Santa Fe and the Azera. That will be followed by a new sports car in October called the BK which will be based on the Hyundai Genesis Coupe. In the first half of 2009, Hyundai will bring its most expensive luxury sedan, the Genesis, with a 4.8 liter engine. A crossover is also in the works.
“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,” Young-Key Koo, chief representative of Hyundai Motor China for sales and marketing, told Gasgoo.
“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.”
That’s right baby. Go Hyundai! The same move is likely to follow in other markets including the U.S. after Hyundai studies the impact of the Genesis brand in China.
Posted on: March 17th, 2008
Filed under: Industry News, Hyundai
Hyundai to launch luxury brand in 2010 'along the lines of Toyota's Lexus'
Hyundai is enjoying booming success in China. The Korean automaker sold 24,000 vehicles in China so far in 2007, an increase of 11 percent over 2006. Hyundai was also the number 2 auto brand in the first half of 2008, falling behind its Japanese rival Toyota.
Currently Hyundai imports five models to China including the Elantra and Sonata. Later this year Hyundai will add two more model to its China lineup with the new Santa Fe and the Azera. That will be followed by a new sports car in October called the BK which will be based on the Hyundai Genesis Coupe. In the first half of 2009, Hyundai will bring its most expensive luxury sedan, the Genesis, with a 4.8 liter engine. A crossover is also in the works.
“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,” Young-Key Koo, chief representative of Hyundai Motor China for sales and marketing, told Gasgoo.
“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.”
That’s right baby. Go Hyundai! The same move is likely to follow in other markets including the U.S. after Hyundai studies the impact of the Genesis brand in China.
03-17-08, 01:04 PM
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I wonder how they will compete in the already overcrowded market. This is going to be interesting. And who knows? Maybe 10 years later, I'll be dying to get myself a $60000 Hyundai vehicle.
03-17-08, 01:06 PM
#7
Hyundai definitely has the ability to progress.
However, they need to be more innovative. Just because you can copy another company's ideas and designs and blend it into the brand doesn't make them legitimate.
They need to be forward thinking with technology and design. For example, Hyundai just started offering navigation systems within the past two years. Also, their designs are highly inspired by Lexus (such as the Veracruz copying the RX) or Toyota (such as the Santa Fe copying the Rav4).
However, they need to be more innovative. Just because you can copy another company's ideas and designs and blend it into the brand doesn't make them legitimate.
They need to be forward thinking with technology and design. For example, Hyundai just started offering navigation systems within the past two years. Also, their designs are highly inspired by Lexus (such as the Veracruz copying the RX) or Toyota (such as the Santa Fe copying the Rav4).
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03-17-08, 01:11 PM
#8
Lexus Test Driver
Koreans... are damn good at copying. They've got industries just purely based off copying things... where original manufacturer's can't tell the difference....
And as they say, imitation is the sincerest form of flattery, and though I've never been a big fan of imitation--Hyundai has to start somewhere in following a successful business model, which Toyota is. I'm sure they'll get innovative and start doing things their way somehow down the road. Compared to the bigger names in the game Hyundai has had a relatively short history, but has had a meteoric growth. Hyundai looks like it's poised to become the next "Toyota" in the industry (or at least they're planning to).
And as they say, imitation is the sincerest form of flattery, and though I've never been a big fan of imitation--Hyundai has to start somewhere in following a successful business model, which Toyota is. I'm sure they'll get innovative and start doing things their way somehow down the road. Compared to the bigger names in the game Hyundai has had a relatively short history, but has had a meteoric growth. Hyundai looks like it's poised to become the next "Toyota" in the industry (or at least they're planning to).
03-17-08, 02:10 PM
#11
I'm Japanese and don't mind admitting my whole culture in the past was build on copying, blending, and making it their own and better. It does seem like the Koreans at least with the Genesis have copied and made it better as well at least from a design point of view.
03-17-08, 02:24 PM
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Hey other Japanese auto makers did it in the 80's so what the heck come on Hyundai show us what you got.
If they separate it enough most may not know its a Hyundai. I remember back in the day I had to tell people my LS was made by Toyota and even still they hesitated to believe me until I showed them the Toyota label in various places on the car.
If they separate it enough most may not know its a Hyundai. I remember back in the day I had to tell people my LS was made by Toyota and even still they hesitated to believe me until I showed them the Toyota label in various places on the car.
