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Hyundai Genesis & Hyundai Equus India Launch Being Considered
Hyundai, India's second largest car manufacturer in terms of volume, is looking build its presence in the premium car segment with the introduction of its high-end luxury cars in the country.
Also Read: All New Hyundai Genesis Saloon - Preview
According to a company executive who spoke to Financial Express, the South Korean automaker is "studying the luxury space right now". The luxury car market in India is currently dominated by the German triumvirate, Audi, BMW and Mercedes-Benz. For Hyundai to make a room for itself in this space will be a major challenge. As such, the automaker is said to be gauging buyer sentiments before taking the next major step.
According to the official, Hyundai is looking to launch the Veloster sports compact, Genesis luxury saloon and their flagship model, the ultra premium Equus saloon in India. If launched, the Genesis and the Equus would be sold through dedicated dealerships and will be a separate sales team.
In fact, the Equus, which is the automaker's most expensive models, is already sold without the ‘Hyundai' brand name in certain markets. The Equus is sold in selected markets across the world, which includes its home country, South Korea, North America, China and the West Asia.
The luxury car segment in India is expected to grow by 20 percent by the end of this financial year, from 29,000 units sold to 35,000 units. Audi leads the race and is well into becoming the first luxury car company in India to cross the 10,000 units mark in a year. Toyota owned luxury brand, Lexus could also make its entry into India in the near future, depending on the how favourable conditions become.
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