SEOUL, April 12 (Korea Bizwire) – Hyundai Motor Co. will unveil an all-new concept car under its Genesis luxury brand at the New York Auto Show, the South Korean carmaker said Wednesday.
“We are planning to debut a new sport-utility vehicle concept in New York early tomorrow morning,” a company spokesman said.
Hyundai will hold a news conference for an “exclusive reveal” in New York and the press event will be broadcast live on YouTube and other websites at 4:20 a.m. Thursday (Korean time), he said.
Hyundai has placed the G80 full-size and G90 upper large-size sedans in markets of the United States, Canada, Russia and the Middle East under an independent nameplate since November 2015.
Hyundai kicked off the independent Genesis brand in November 2015 after testing the waters with the Genesis sedan (G80) and larger Equus (G90) in global markets. The sub brand aims to expand the carmaker’s lineup into the more profitable premium segment, which is similar to what Lexus is to Toyota Motor Corp.
Under its 2017-2020 road map, the maker of the popular Sonata midsize sedans and Elantra compacts plans to add two SUVs, a compact sports sedan and a sports coupe to its Genesis badge.
“In New York, four Genesis models will be on display. They are the G90, G80, G80 Sport, and the SUV concept,” the spokesman said.
As Hyundai already teased the Genesis sports sedan that is rumored to bear the G70 moniker at last year’s New York Auto Show, many expected Hyundai to come up with another concept car this year in the same show.
The company said last month it will launch the G70 model in the South Korean market in the second half of this year.
From January 2008 when the Hyundai branded Genesis hit markets to February this year, the company sold an accumulated 481,997 Genesis sedans in global markets, including 220,973 units sold overseas, company data showed.
To help prop up its bottom line, Hyundai is considering China, the world’s biggest premium car market, next year with its Genesis models.