SEOUL: South Korea’s Hyundai Motor Co has unveiled the first sport-utility vehicle (SUV) under its Genesis brand, a move analysts said was crucial for the premium marque’s expansion in overseas markets.
The brand, spun off in 2015, is an initiative of Hyundai Motor Group heir-apparent Euisun Chung aimed at revamping the image of the value-for-money automaker.
However, its sedan-only lineup has limited its reach in the United States - its biggest overseas market - where consumer preference has shifted to SUVs, and where Hyundai has been embroiled in disputes with dealerships.
The automaker plans to launch the GV80 SUV in North America in the first quarter of 2020. It expects the model to be part of a strengthened lineup that will also lead the brand’s expansion in China and Europe where it has yet to make inroads, William Lee, Global Head of Genesis, told a news conference. — Reuters
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