[THE INVESTOR] Hyundai Motor
is apparently embarking on marketing its upcoming G70 sedan in the global markets.
Manfred Fitzgerald, Genesis global brand chief, met with several global digital marketing firms this week to discuss plans and branding strategy for its new luxury sports car prior to debut in the latter half of this year, according to an industry source.
The branding guru, who joined Hyundai after his successful stint at Lamborghini, has set his eyes on expanding the newcomer Genesis footprint globally.
Hyundai is counting on the standalone Gensis brand to revive its slumping sales. The carmaker’s overseas sales fell 16.5 percent on-year in May, while its smaller sister brand Kia Motors’ sales declined 10.1 percent.
G70, the third and smallest model in the Genesis lineup, is expected to be unveiled in September. Set to compete against the Mercedes-Benz C-Class and BMW 3 Series, the model is tasked with building the brand image of Genesis as high-end cars.
Genesis became a standalone brand after leaving the Hyundai umbrella in 2016. Since then, two Genesis nameplates -- the full-sized G90 and midsized G80 sedans were released in the market. The automaker plans to complete the six-model lineup by 2020 by adding two SUVs and a sports coupe.
In 2016, Genesis sold 87,130 cars worldwide, with 66,039 of them delivered in Korea. The automaker is looking to introduce the brand in different countries for further growth, including Europe and China, the world’s largest auto market.
Fitzgerald has said Genesis will enter China around 2019 with its own retail channel. Hyundai has reportedly formed a task force team under its China operations to review local regulations and conduct market research.
Genesis cars are currently being sold in Korea, the US, Middle East, Russia and Canada.
By Ahn Sung-mi (firstname.lastname@example.org