Dubai: It’s Hyundai’s turn to set out on the luxury ride as it creates a standalone premium marque under the ‘Genesis’ label, much along the lines of Toyota with Lexus and Nissan with Infiniti. By the end of the decade, the South Korean carmaker plans to have a line-up of six models, including SUVs and crossovers. The first of the Genesis models will be an extensively remodelled top-of-the-line sedan (formerly known as the ‘Centennial’) and which should be available from next year.
“Last year Hyundai did global sales of 5 million plus units and the timing is right to create a separate premium automotive brand,” said Jin Kim, Vice-President and Head of Africa and Middle East headquarters. “Our existing Genesis model on its launch in the US had won top awards there for its class. And it was felt the same consistency can be created on a wider range of models bearing the Genesis tag.
“We are aiming big for the global affordable luxury category.”
The separation of the luxury brand seems to be in vogue as far as volume manufacturers are concerned. In recent years, General Motors had taken this route, while Ford had outlined a complete makeover programme for the Lincoln.
Meanwhile, the current Genesis model has seen a marked increase in demand from both retail and fleet operators in the UAE, according to top officials at Juma Al Majid Est, the dealership. It was two years ago that its locations started having dedicated ‘luxury zones’ to showcase the Genesis and Centennial and backed up by their own sales teams.
“So, the platform already exists in the UAE to support a broader line-up of Genesis models and at some point it should naturally lead to building exclusive showrooms for the brand,” said Khaled Issa, Chief Operating Officer at Juma Al Majid Group. The dealership is committing Dh500 million plus to finance more than 200,000 square metres of new facilities in Dubai, Sharjah and Fujairah. The company is also in the final stages of the concept design for a new showroom in Abu Dhabi.
“From our side, we — and the other dealerships in the region — had been pressing Hyundai Motor Co. to make this move for the last two years. We even had a committee to explore the possibility and give our thoughts to HMC. And now it will happen and we are ready for that.”
HMC should be making the formal announcement of the Genesis structure next month and what the timeline would be for the new launches. According to Kim, the existing Hyundai production facilities will be used for the brand extension as well.
