Hyundai hired Luc Donckerwolke, a former designer at Bentley and Lamborghini, to oversee design.South Korea's largest automaker said Wednesday that the Genesis brand will begin with two sedans, including the namesake upscale car launched two years ago and a large flagship sedan slated for release next month.In South Korea, the company faced competition from German and Japanese cars.
Hyundai will add four more models including a sports coupe and sports utility vehicles by 2020 Seoul: Hyundai Motor Co.It will add four more models including a sports coupe and sports utility vehicles by 2020. said Wednesday it has launched a premium car brand named after its Genesis sedan to boost profitability and its share of the fast-growing global market for luxury Impeller type permanent magnet variable frequency aerator host vehicles.
Its sales in China dropped sharply this year due to heightened competition from Chinese carmakers. The automaker's underestimation of strong demand for SUVs and a cheap Japanese yen that boosted rivals Toyota and Honda also contributed to its weak performance. Hyundai already had two models in the premium car market, but is better known for mid-range cars such as the Sonata and Avante..The move comes after Hyundai's latest quarterly profit slid to the lowest in five years.
The company had planned to launch the stand-alone brand when it released the first Genesis sedan in 2008 but postponed because the global financial crisis dented sales of luxury cars
