Hyundai to launch Genesis brand in China
September 26, 2016 Category Automotive, Weekly
South Korea’s Hyundai Motor will launch its stand alone premium Genesis auto brand in China within two to three years, thereby expanding in the luxury segment. The plans come as Hyundai tries to reverse 10 straight quarters of falling profits, hit in part by sales weakness in China. “The luxury customer in China is very brand-conscious,” said Genesis Brand Chief Manfred Fitzgerald. The former executive with Audi’s Lamborghini brand was speaking at the first, and so far only, standalone Genesis store, in a glitzy mall on the outskirts of Seoul featuring cars like G80 sedans. “If you don’t get your brand right, you can have the best product in the world, it won’t work,” said Fitzgerald. “In two, three years’ time we will be entering China,” he said, declining to give sales targets for a global rollout that will follow launches in South Korea late last year and in the United States last month.
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