Hyundai to Launch Standalone Luxury Genesis Brand

A report by Reuters is hinting that Hyundai will officially spin off its Genesis model into a whole brand of luxury vehicles.

The lineup is expected to consist of the current Hyundai Genesis, a renamed version of the Hyundai Equuis and an upcoming mid-sized crossover. Such a brand would be similar to how Toyota created its Lexus luxury brand, or Honda and its Acura counterpart.

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The official word is expected sometime today or tomorrow, but the report suggests that the move isn’t a unanimous decision, with US executives not sold on the move. Cars will still be sold at Hyundai dealerships, rather than a standalone dealer.

The Korean automaker had been avoiding making this move for years, but the strong Korean won and the pressure of foreign luxury brands being sold on home soil is helping influence the decision now.

[Source: Reuters]

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