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Genesis to challenge rivals in European market

October 25, 2013

Hyundai Motor unveiled a rendering of the next generation of its flagship
luxury sedan Genesis during a media preview event at its R&D center in
Gyeonggi Province, Thursday. The upgraded model has a long hood, a short front overhang and a revamped grille. It will be launched in December.
/ Courtesy of Hyundai Motor

Hyundai seeks to improve brand power

By Na Jeong-ju

Hyundai Motor Group Chairman Chung Mong-koo holds a meeting with executives during a visit to the group’s European marketing and sales center in Offenbach, Germany, Thursday. / Courtesy of Hyundai Motor

Artist’s renderings of the new Genesis

Hyundai Motor Group said Friday that its luxury sedan, Genesis, soon to roll out on to the European market, will help improve brand awareness of the firm in the region.

During a visit to the group’s regional marketing and sales center in Offenbach, Germany, Chairman Chung Mong-koo said the Genesis will change people’s perception of Hyundai’s vehicles overall in the European markets, according to the firm.

The country’s largest carmaker plans to boost sales in Europe by introducing the latest version of Genesis, which is already popular in the United States.

“The new Genesis is our pride. It shows the level of our technological advancement,” Chung said. “I believe it gets abreast of best-selling large sedans in Europe in terms of quality and performance. European consumers will like it, too.”

The chairman instructed company officials to set up effective marketing strategies for the Genesis, saying that the sedan will help the firm compete better in Europe.

The new Genesis is Hyundai’s first large sedan to be sold in Europe. It has focused on sales of compact and mid-sized cars in the region.

Europe is an important market for Hyundai’s future growth.

Automobile sales in the region dropped by 7.8 percent to record 12.52 million last year from 13.59 million in 2011, but Hyundai and its affiliate Kia Motors sold about 770,000, up 11.6 percent during the same period.

The market share of Hyundai and Kia in Europe was 3.4 percent in 2008, but increased to 6.1 percent last year.

The Genesis is one of a number of popular large sedans in the U.S.

About six months after its sale was launched there in 2008, the sedan was picked as North American Car of the Year. Since the launch, Hyundai has sold more than 93,600 units in the U.S.

The big success of the Genesis in the U.S. has also aroused interests in other Hyundai vehicles, helping the firm boost its presence in North American markets, according to the firm.

Hyundai hopes that the success story will continue in Europe.

During a four-day trip to Europe, Chairman Chung visited Kia’s plant in Slovakia, Hyundai’s plant in Czech and the group’s regional headquarters in Frankfurt. The Slovakian factory produced 235,000 vehicles including the Ceed, Venga and Sportage until the third quarter of this year, while the Czech plant manufactured 228,000 vehicles including the i30, ix20 and ix35.

During meetings with European staff, Chung called on them to make efforts to upgrade brand recognition of Hyundai’s and Kia’s cars, saying they are largely undervalued in Europe, according to the firm.

He returned home Friday.