Image source: NewsBytes
Hyundai Motor Corporation aims to introduce its high-end luxury brand Genesis in India by late 2025, according to Autocar India,’ as the country’s luxury automobile industry is about to reach a record high.
According to reports, the Genesis brand would target premium car buyers. The primary focus will be on challenging the sales of brands such as Mercedes-Benz, Audi, BMW and Volvo. Hyundai has created a dedicated team to assess the premium automobile market in India. This team’s primary responsibility is to provide a detailed plan, as well as profit estimations for the new products.
Talking about products, Genesis sells high-end vehicles and SUVs around the world. However, the SUV trend in the Indian auto market would likely push the manufacturer to introduce the GV70 first. The GV70 is a mid-size SUV that competes directly with the Audi Q5 and Mercedes-Benz GLC on the global market. Following the GV70, Genesis will introduce the GV80, a bigger SUV that competes with the Audi Q7 and Mercedes GLE. Both models will make their debut as CBU initially. Hyundai, however, intends to localize these models going forth.
The price of these models cannot be estimated now. However, given that they will compete with popular luxury SUVs, prices will likely be similar.
