genesis has fought intensively against German luxury car brands, but now also wants to take on premium vehicles from another country: China.
Korean release Maeli business newspaper reports that the Hyundai-owned brand will launch a people mover for the Chinese market to strengthen its image there.
While people movers are often seen as simple family transport in Australia, in China they are often status symbols and flagship vehicles of their respective manufacturers and are available with luxury features such as cabin partitions and giant television screens.
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Should Genesis launch a people mover, it would take on a range of models from Chinese brands, from the Denza D9 to the Zeekr 009, but also the LM from Japanese luxury brand Lexus.
It would serve as a halo vehicle for the brand there Maeli business newspaper also reports that luxury MPVs often have higher profit margins than sedans.
It could also be exported to markets in Southeast Asia and the Middle East.
The publication doesn’t mention which powertrain it would use, although given Chinese market trends, we’d assume it would be a plug-in hybrid, electric vehicle (EV), or range-extended electric vehicle (EREV). Genesis already offers electric vehicles and will soon launch its first hybrid and EREVs.
Genesis’ design team has already sketched out ideas for a luxury people carrier, with one particularly stylish vehicle appearing in sketches released by Car & Design Magazine published and re-shared by Anh Ðinh Hoàng on Instagram (above).
Hyundai Motor Company wants to halt the decline in sales in the Chinese market that began in 2017.
The Beijing-based Hyundai joint venture sold over a million vehicles in China each year between 2013 and 2016, before sales fell to 755,659 units in 2017, rose slightly in 2018 and continued to decline thereafter.
Kia’s Chinese joint venture has seen a similar, if less pronounced, downward trend, while the Genesis brand launched in China in 2021 and still has a niche presence in a market where it currently only offers the G80, G90, GV70 and GV80 models.
Maeli business newspaper attributes Hyundai’s decline in sales in large part to South Korea’s receipt of the U.S. Terminal High Altitude Area Defense (THAAD) missile system in 2017.
Hyundai Motor Company is no stranger to developing vehicles for the Chinese market, some of which are eventually exported to other countries.
The Custo people mover is currently being built there, while other Hyundai models on the Chinese market include the Lafesta and Mistra sedans.
Recently developed for the Chinese market was the Elexio, which was launched here in Australia this year as the brand’s first Chinese-built model.
An affordable electric SUV, the Elexio reportedly forms another pillar in Hyundai Motor Company’s “two-pronged” strategy for the Chinese market. Hyundai also plans to “completely reorganize” its Chinese operations this year and turn its three remaining factories there into export hubs.
While the Genesis people mover has yet to be confirmed – let alone confirmed for export to Australia – the luxury people mover segment is abuzz in Australia, with Chinese brands apparently hoping to create a halo effect here like they did in China.
In addition to the already mentioned Denza D9, Lexus LM and Zeekr 009, there is also the GAC M8, with the Xpeng X9 and GWM Wey G9 also being for sale here this year.
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