South Korean automaker, Hyundai plans to launch its flagship luxury models in India. Hyundai wants to enter the luxury car segment in India with its luxury cars like Genesis sedan, luxury saloon and Veloster Sports hatchback.
It is expected that Hyundai to display the Equus at the upcoming Auto Expo 2014 which is the most expensive model. Equus is currently available in the countries like South Korea, North America, China and the West Asia. Hyundai will have to compete with the brands such as BMW, Audi, Jaguar and Mercedes-Benz.
Hyundai Spokesperson said, “We are studying the luxury space right now, though there is nothing definite yet. Apart from Equus, there are more luxury models in the Hyundai range. However, we will need a different network to sell these cars. We are gauging customer acceptance of Hyundai’s luxury car range and then we will take a decision.”
“The luxury car market requires a very different end-to-end long-term strategy in terms of marketing and channel partners. One school of thought is that it will be tough to establish a new brand, but we have been heading towards the premium end progressively with new launches like the Verna, Elantra and Sonata”