Hyundai Preparing New Elantra Coupe, Azera and Genesis R-Spec with 429HP V8

After registering record sales in 2010, Hyundai seems committed to an all-out offensive with the company reportedly planning to launch a coupe version of the 2011 Elantra and the new Azera sedan in the U.S. within the next year or so. According to an Autoweek report, the news was broken at the National Automobile Dealers Association (NADA) convention in San Francisco, where the Korean automaker also showed its dealers a photo of the upcoming coupe.

“They showed us a photo of it and it's gorgeous,” said Doug Fox, a Hyundai dealer from Ann Arbor, Michigan. “We weren't expecting that.”

It is said that the two-door model will go on sale this spring, however Hyundai spokesman Jim Trainor neither confirmed nor denied the existence of the car, simply stating that the alleged launch date is inaccurate.

Hyundai previewed the redesigned Azera as well, which will get a new 3.3-liter direct-injected V6 gasoline engine, estimated to deliver about 260HP and better fuel economy compared to the current model.

“It'll give us that step-up car from the Sonata for when Sonata owners come back and want something a little bit larger”, Fox said.

Dave Zuchowski, Hyundai's U.S. sales boss, told reporters that the new Azera is due in January 2012, with projected U.S. sales of 18,000-20,000 units per year.

The last item on the manufacturer’s list was the announcement of a new trim level for the imminent 2012MY Genesis, dubbed R-Spec. Hyundai Motor America CEO John Krafcik said that the new model, featuring a new 429HP 5.0-liter V8 engine and in-house-developed 8-speed automatic gearbox, would make its debut at this week’s Chicago Auto Show. Base price is expected to be between $45,000-$50,000.

By Csaba Daradics

Source: Autoweek

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Hyundai Evaluating the Creation of a Separate Genesis Brand to Compete with Lexus, May Build a BMW 3-Series Rival

If you were wondering what's next on the Hyundai and Kia Group's agenda of world domination, the answer is the addition of a third brand to the firm's portfolio to compete head on with Japan's Lexus and Infiniti, and possibly even Germany's finest, including BMW and Audi.

The luxury arm would most likely be called Genesis and include the South Korean firm's current rear-wheel drive offerings such as the Genesis Sedan and Coupe, plus the soon-to-be-launched onto the American market, Lexus LS-rivaling Equus.

The automaker, which saw its U.S. market share increase by an overly impressive 50 per cent in the past two years, would further enhance the range of the Genesis brand with a compact sports saloon in the likes of BMW's best-selling model, the 3-Series, and a crossover utility vehicle to compete with the Lexus RX 350.

The creation of the luxury arm is more than just a thought as John Krafcik, president of Hyundai Motor America, told The Wall Street Journal that the company has two branding scenarios under consideration.

The first and most likely to happen would be for Hyundai to launch the Genesis as a sub-brand and sell the cars in separate parts of its own showrooms. The other is to follow in the footsteps of Lexus and launch the brand into separate dealerships. One third option would be for the company to develop the aforementioned sedan and SUV models but keep the Hyundai branding for the time being.

"One of the keys to this plan is how well the Equus does. We don't need to make a decision for some time", Mr. Krafcik said on the branding question during an interview with journalists.

While Hyundai remains open to all options, Mr. Krafcik said that he is most concerned about launching a spin-off brand due to the costs related to the creation of a new network of dealers and that the company would need to make an additional $6,000 in revenue per each car sold by the outlets.

There appears to be a lot of enthusiasm among Hyundai dealers who are almost certain about the creation of the Genesis brand.

"The dealers are excited about the Equus, and it being the lynch pin for this Genesis brand," said Scott Fink, an owner of two Hyundai dealerships in Florida. "We feel like we can do what others have been unable to do. We think we can sell a luxury brand within the house of the mainstream brand."

Source: Wall Street Journal

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