Hyundai Motor launched its first new sedan under the premium Genesis marque in South Korean capital, Seoul, on Friday, intending to seal the brand’s location in the luxury sector and make up for its absence of a strong SUV line-up.
The G70, the third sedan to bring the Genesis name however the first to be marketed exclusively under Hyundai’s fledgling premium brand.
Beginning from $33,000, the sporty four-door deals bang for the buck as it takes on competitors such as affiliate Kia Motor’s Stinger sedan and BMW’s 3 series.
But experts say the G70 will not fix Hyundai’s troubles in the United States, where sports utility vehicles (SUVs) are all the rage and the two previous Genesis-branded sedans failed to take off.
“Look at Cadillac, with just one crossover, the brand is having a hard time in the U.S. It will be much the same story for Genesis until they can get a crossover to market,” stated Dave Sullivan, product analysis manager at U.S. consultancy AutoPacific.
“It’s not because the G70 will be a bad product … The sedan lineup just doesn’t match consumer demand.”
The G70 debut in South Korea on Friday followed by the United States early next year. Hyundai has not stated when it would go into China and Europe, markets that are dominated by German premium brands.
“G70 will lead the way for growth and expansion of the Genesis brand,” Executive Vice President Lee Kwang-guk informed a media event.
Hyundai Motor anticipates yearly sales of more than 60,000 G70 sedans worldwide.
Hyundai has said the Genesis line-up will grow to six by 2021, with the addition of 2 SUVs as well as electric vehicle.
Genesis department head Manfred Fitzgerald informed press reporters that the next Genesis model is going to be an SUV, without elaborating more.