Hyundai intending to launch premium cars in America

Best known for offering good value for the money, Hyundai is now pushing its image and model range upmarket. The South Korean automaker is also suggesting that Genesis (recently exhibited) is only the first of a new range of premium performance products for the brand. We aren’t the only ones who are wondering if the company would consider creating a premium brand to market its increasingly up-market product lineup. “We’ve got a level of sophistication in our engineering team now that’s ready to compete with the world’s best,” said John Krafcik, vice president of product development at Hyundai Motor America. “It’s likely you’ll see more products coming off this platform,” Krafcik said. The automaker’s venture into the premium territory is a virtual requirement in the American market as other fast-growing foreign automakers like Toyota, Honda, and Nissan, have entered the segment after years of selling economy cars in the US.

As the company creates more products with higher price tags, would a premium brand, such as what Toyota created with Lexus, make more sense?

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