April 20, 2024
Automobiles
Hyundai Genesis to enter China in 2019
[THE INVESTOR] Hyundai Motor Group , the nation’s largest automaker, will launch its luxury Genesis cars in China in 2019 in a move to expand into the world’s largest auto market.
“The next major market will be China,” Genesis brand chief executive Manfred Fitzgerald told Automotive News during a recent interview at the Seoul Motor Show. “In the next couple of years, meaning, to be more precise, around 2019.”
Fitzgerald added there are plans to sell Genesis cars through a separate retail channel instead of the existing Hyundai outlets in the country. The carmaker, however, is still mulling whether to export Genesis cars from Korea or assemble the vehicles locally.
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According to sources, Hyundai has recently formed a Genesis task force team under its China operations department. The team will look into local regulations and conduct market research with aims to introduce the cars in Hyundai’s biggest overseas market.
The automaker may launch the G80 midsize sedan and the larger G90 in the country, as well as the upcoming compact sedan G70 -- which will make its Korean debut in the second half of this year.
Genesis, which was established as a spin-off in 2015, is sold in Korea, the US, few countries in the Middle East, Russia and Canada. But much of the sales come from Korea with 66,029 units sold last year, out of overall sales of 87,130 units.
The Genesis’ China entry is expected to help Hyundai Motor Group to revive its unprecedented sales slump amid intensifying anti-Korean sentiment over Seoul’s decision to deploy an US anti-missile system.
Hyundai Motor and its sister company Kia Motors sold a total of 72,032 vehicles in China in March, a 52.2 percent decrease from a year ago. Separately, Hyundai saw its sales fall 44.3 percent, while Kia suffered a 68 percent decline.
By Ahn Sung-mi (sahn@heraldcorp.com)
The automaker may launch the G80 midsize sedan and the larger G90 in the country, as well as the upcoming compact sedan G70 -- which will make its Korean debut in the second half of this year.
Genesis, which was established as a spin-off in 2015, is sold in Korea, the US, few countries in the Middle East, Russia and Canada. But much of the sales come from Korea with 66,029 units sold last year, out of overall sales of 87,130 units.
The Genesis’ China entry is expected to help Hyundai Motor Group to revive its unprecedented sales slump amid intensifying anti-Korean sentiment over Seoul’s decision to deploy an US anti-missile system.
Hyundai Motor and its sister company Kia Motors sold a total of 72,032 vehicles in China in March, a 52.2 percent decrease from a year ago. Separately, Hyundai saw its sales fall 44.3 percent, while Kia suffered a 68 percent decline.
By Ahn Sung-mi (sahn@heraldcorp.com)
