Hyundai unveils first Genesis SUV in renewed overseas premium push

South Korea’s Hyundai Motor unveils first Genesis SUV in renewed overseas premium push

SEOUL - South Korea’s Hyundai Motor Co unveiled the first sport-utility vehicle under its Genesis brand on Wednesday, 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. 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.

“Genesis owners are some of the oldest in the U.S. market. With a median age of 62, only Cadillac and Lincoln owners are older,” Ed Kim, vice president at California-based consultancy AutoPacific, told Reuters.The brand made progress rebuilding its U.S. retail network in 2019 after flip-flopping on strategy for separate dealerships to those of Hyundai-branded vehicles which led to legal disputes with Hyundai dealers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

General Motors unveils new 2021 GMC Yukon, Yukon XL SUVsGeneral Motors unveiled redesigned versions of its GMC Yukon and Yukon XL SUVs on Tuesday night, including new off-road AT4 models and more premium versions of its top-end Denali vehicles.
Read more »

Fidelity Investments' crypto arm makes first push into EuropeThe cryptocurrency arm of Fidelity Investments, one of the world's largest ...
Read more »

'You' Renewed For Season Three on NetflixIt's not over until Joe says it's over. YOUNetflix
Read more »

Shameless Renewed for 11th and Final Season'Shameless' renewed for 11th and final season
Read more »

Stocks Hit New Highs After U.S. Removes China’s Currency Manipulator LabelStocks have hit new highs after the U.S. removed China’s currency manipulator label by skleb1234
Read more »

The Best Classic Restaurants in Every StateWe're talking roughly 250 different restaurants, from furthest Alaska to sunny South Florida.
Read more »