I can hear the skeptics or misinformed laugh when learning about Hyundai's projects: the Korean automaker, who made a name for itself by offering competitively-priced entry-level cars, is now targeting the same high-end luxury market as Mercedes-Benz and BMW.
But Hyundai means business and it could not have been more obvious at the recent New York Auto Show. The company's new Genesis Concept, a sedan sized between the BMW 5- and 7-Series, offers an impressive array of luxury amenities and, more importantly, driving dynamics that go way beyond what consumers traditionally expect from Hyundai products.Incidentally, when it sees the green light for production in the second half of 2008 (as a 2009 model), the Genesis will become Hyundai's first-ever rear-wheel-drive car to hit the North American market. It will also feature the company's first V8 engine on our shores -- an evolution from the "Tau" powerplant that is currently used in Korea. In order to ensure improved performance, the Genesis RWD architecture will allow a near-perfect weight distribution (53/47) while its stiffness level will be 14 % superior to current BMWs. In short, this car promises to offer true driving fun as well as enhanced comfort. "We realize that people don't see a direct link between Hyundai and luxury cars. We know quite well that colossal marketing efforts will have to be made, but I think that the product in itself will surprise everyone and exceed every expectation," said John Vernile, V-P of Sales and Marketing at Hyundai Canada.However, it's not just about the product; competitive prices that will lure in buyers are also crucial. "Simply put, we'll have to be coherent in terms of pricing. For instance, selling $100,000 cars is clearly out of the question because it wouldn't be a natural evolution from our current offerings. On the other hand, a price that is slightly higher than the most expensive Azera's would put us in a favourable position," added Mr. Vernile.
While no announcement has been made yet, the Genesis should retail for about $65,000 -- or maybe less. And forget about sharing the car's platform with Hyundai's parent company, Kia, despite the latter's recent sporty trend. "The great thing, though, is that this state-of-the-art architecture could underpin all-new products, like a luxury crossover. Hyundai has completely revamped its lineup over the last two years and now targets new market segments. The Genesis is the key to achieving our goals," explained the V-P.
photo: Marc Bouchard