Hyundai Motor Co. is far from the top automobile brand of choice in China but its luxury-car division is seeking to change all that with a direct-to-market strategy targeting young, upwardly mobile consumers.
Genesis Motor made its debut in China in April last year after entering North America, Australia and the Middle East. Interestingly, its line up in the world’s biggest car market won’t include an electric vehicle, at least initially.
"It is a tough market to enter but we can’t be a truly global brand without being in China, the most important market in the world,” Genesis China Chief Executive Officer Markus Henne said. Three models are currently available — the G70, G80 and GV80, starting from 249,800 yuan ($39,300) — and electric models should be added later this year. Tesla Inc.’s model Y SUV starts from around 300,000, by comparison, while an entry level BMW or Audi typically costs north of 200,000 yuan.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.