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Genesis brand could cost Hyundai half-billion dollars

omarrana submitted on 5/8/2008 Official Bell & Ross Timestamp: 3:35:15 PM

23 user comments | Category: New Cars | Source: | SOURCE: www.egmcartech.com

Tag Link: Hyundai

Ever since Hyundai started teasing us with the Hyundai Genesis sedan, it was thought that Hyundai would pull a Toyota/Lexus move and offer the Genesis nameplate as its luxury division.

Hyundai even admitted at the 2008 Detroit Auto Show, during the U.S. premiere of the Genesis sedan, that it was testing the market by unveiling two Genesis Sedans, one with the Hyundai logo and one without.

With the sedan hitting the market later this summer followed by the Genesis Coupe later next year, the Genesis could be launched as a Lexus like brand. According to MotorTrend, the decision to make the move on a premium brand could be three to fours years away.

According to Dong-Jin Kim, Hyundai’s vice chairman...

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Genesis brand could cost Hyundai half-billion dollars

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omarrana

I hooked up my accelerator to my brake lights. I hit the gas, people behind me stop, and I'm gone.

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User Comments

answer

I think the Genesis line would be nice.

I was dissapointed when Mazda dropped their lux line plans in the mid 90's.

— answer (View Profile)

Posted on 5/8/2008 3:54:33 PM | reply to this comment | Votes: 6   

Batman219

I think the Genesis line should replace the Hyundai nameplate not add to the Hyundai family. The reputation of the Hyundai name is too damaged for a recovery. Replacement is a better option.

— Batman219 (View Profile)

Posted on 5/8/2008 4:43:10 PM | reply to this comment | Votes: -12   

JRobUSC

you do realize how fast Hyundai is growing, right? Within the next 10-15 years Hyundai is expected to grow to Toyota-like proportions, and most experts think they're the brand most likely to eventually challenge Toyota as the worlds largest car manufacturer. Somehow I don't see them dropping the name.

— JRobUSC (View Profile)

Posted on 5/8/2008 6:40:32 PM | | Votes: 6   

pushrod27

i think if hyundai wants to start charging toyota prices for its cars, then they should drop the name. to be honest, i'm very perplexed that hyundai sells a lot of cars. i would never buy or drive one in a millions years, i find the very idea disgusting.

right now, a lot of people are just looking for a cheap car. a Hyundai will do for them. But if Hyundai wants to expand and move beyond $25k territory for good, then they will need another name.

where i'm from, 'Hyundai' translates to 'i had no other choice.' if you are a person who CHOOSES to drive a Hyundai, please explain it to me, because i'm lost. Choosing to buy a Hyundai (if you can afford something else) makes about as much sense as a penile reduction surgery.

— pushrod27 (View Profile)

Posted on 5/8/2008 8:36:41 PM | | Votes: -6   

Batman219

Hyundai can grow all it wants, it'll still be a Hyundai. You can dress up a turd to make it look fancy and prestigious but its still a turd. That's my point.

Reputation is larger than the entity. Hyundai dropped the ball on reputation from the beginning and IMO its too bruised to bring back. Rather than start a new line they should just rename the auto division Genesis.

— Batman219 (View Profile)

Posted on 5/8/2008 9:28:52 PM | | Votes: -5   

JRobUSC

pushrod and batman, Hyundai certainly took their lumps early on, and their reputation was deserved. Fifteen years ago. Of course fifteen years later a lot has changed. They're no longer the unreliable crap boxes they used to be, and frankly most people buying Hyundai's today were either too young to drive back then or young enough now to not even know that reputation previously existed. They do have a couple of big things going for them. For example,

a) they're less expensive than Honda's, Toyota's, and Nissan's, and
b) they have a very long warranty.

That's going to appeal to some people. And based on sales figures, it's appealing to more and more people every year. You might never drive one. I'm not interested in owning one either. But it's probably a good thing you don't work for an automotive manufacturer, because considering the figures and evidence staring you in the face your blanket dismissal of what is probably going to be the next uber player in the car business is an astonishing lack of foresight. Did you ever work for Ford?

— JRobUSC (View Profile)

Posted on 5/8/2008 11:57:52 PM | | Votes: 5   

KZ258

i didnt even know hyundai had half a bill to throw around like that but if its priced right with the right gas mileage, i dont see any losses here

— KZ258 (View Profile)

Posted on 5/8/2008 7:03:36 PM | reply to this comment | Votes: 2   

AMGC55

they can afford it... it would be good to add a nicer image to there company

— AMGC55 (View Profile)

Posted on 5/8/2008 9:00:54 PM | reply to this comment | Votes: 3   

S4cabriofoxone

This is absolutely necessary, because the Hyundai name was forever tainted in the 1990s by POSs like the EL and first-gen Accent.

Hope it does some good for their luxury sales.

— S4cabriofoxone (View Profile)

Posted on 5/9/2008 12:12:58 AM | reply to this comment | Votes: -1   

lexusis350

I'm living proof that Hyundai tainted their name. I will never buy anything that has anything to do with Hyundai.

— lexusis350 (View Profile)

Posted on 5/9/2008 12:26:18 AM | | Votes: -1   

M35MT

That's strange coming from you S4, Audi's name is just as Tainted in the states with their 80's brake pedal scandal and the infamous late 90's A4 control arm/turbo problems

— M35MT (View Profile)

Posted on 5/9/2008 12:58:58 PM | | Votes: 2   

lexusis350

Half a billion? They should do it! (then maybe they'd go into debt and never make it out again having to declare bankruptcy and therefore ceasing to exist.)

— lexusis350 (View Profile)

Posted on 5/9/2008 12:24:30 AM | reply to this comment | Votes: -2   

DexDiamonds

Is that a shot at Honda?

— DexDiamonds (View Profile)

Posted on 5/9/2008 8:46:44 AM | reply to this comment | Votes: -1   

montyz81

You should check your stats. Your saying that Hyundai is 5th. According to all the lists I have found, this is what the top Auto Manufactures look like:

1 GM
2 Toyota
3 FORD
4 VOLKSWAGEN
5 Honda
6 PSA
7 Nissan
8 Chrysler
9 RENAULT
10 Hyundai

— montyz81 (View Profile)

Posted on 5/9/2008 11:01:53 AM | reply to this comment | Votes: -2   

lexusis350

Honda makes more than motorcycles. They make 4Wheelers, personal watercraft, planes, lawnmowers, boat engines, generators, and much much more. I wouldn't trust something of no value with Hyundai. I can trust Honda. They've proven themself time and time again.

— lexusis350 (View Profile)

Posted on 5/10/2008 1:10:56 AM | reply to this comment | Votes: 1   

adamsaf723

I honestly think they have a little more than 3-4 years, probably 7-8 years. They need to establish themselves as a serious automotive brand. They still have value brand written all over them, which is fine, but you have to prove yourself in the mainstream market before you are ready to enter the most competitive market out there.

It's going to take a while for a CEO look at a Hyundai when questioning whether to get the Mercedes or the Lexus. People are willing to spend a lot for a logo, I'm just not sure people are ready for Hyundai to be that logo.

They've come a long way, but I still think that they have more to go. The car looks great, but even still.

— adamsaf723 (View Profile)

Posted on 5/9/2008 8:30:36 AM | reply to this comment | Votes: 5   

BMW995

From all recent reports, the Genesis sedan is a fine driving auto. As much as some people want to knock Hyundai, the Genesis will be a big hit. Value with quality will win out in the end, and the Genesis has both.

— BMW995 (View Profile)

Posted on 5/9/2008 8:45:38 AM | reply to this comment | Votes: 2   

2001W210

I am sure Hyundai could afford it, but the main question is will the new brand succeed? I haven't bought rebadged Toyota/Honda/Nissan till this day, why in a world am I going to buy a rebadged Hyundai? Unlike the starting days of Toyota, these are the days with unlimited resources over the internet. It will be impossible hide their cheap but reliable image like Toyota did with all that commercials back in early 90s. Rebadged Toyota fans should consider yourselves lucky. If we had enough resources like today, it wouldn't have got so popular. I know many people would agree, if Toyota would've started with that big L on their boring grill today, with unlimited amount of resources, it would've never kicked off.

— 2001W210 (View Profile)

Posted on 5/9/2008 11:41:07 AM | reply to this comment | Votes: 1   

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