Tuesday, November 5, 2013

Korean car manufacturer contact the luxury market

Korean car manufacturer contact the luxury market
For those who call that even Hyundai and Kia what associate reviews euphemistically as "cheap and cheerful" products such as the old pony subcompact, the new K900 as quite a shock could come. When it goes on sale early next year the large KIA sedan should wear a price tag, which could move up in the range of $70,000.

Hyundai in the meantime prepares the roll-out of a completely newly designed version of his great Genesis sedan, targeting deep-seated luxury competitors such as the BMW 5 series, Audi A6 and Mercedes-Benz E-class.

Korean cars "A Yugo be used one step beyond," said Joe Phillippi, a longtime auto analyst and head of AutoTrends consulting. "they have enabled completely the company on its head," he said brand KIA, referring to Hyundai and its smaller siblings.

This is not to say that either will meet the two Marques from the traditional audience. But even their most basic models, such as the $15.340 Hyundai Accent and the $14,400 KIA Rio by stylish remakes has recently gone and offer the kind of performance and offers a traditionally wouldn't expect, by the Econoboxes that once the lineup dominated the Korean automobile manufacturers.

"they made remarkable progress on fit, finish and design," main source River added.
But while they keep in the beginners segment foot, there is little doubt that urge Koreans to top - and quickly. They have mainstream models like the Hyundai Azera and Kia cadenza, which push redesigned you in range of $40,000, prices, few would have expected to see Korean products a decade ago, during the Munroney sticker. But this is only the beginning.

An unexpected success achieved Hyundai, when in the year 2008, there is true a toe in more exclusive waters with its first luxury model, the Genesis sedan stuck. The original model ended up a number of awards - including the coveted North American car of the year earned.

Recently, which manufacturer has a full size model, the Equus, the budget has been aimed, who might otherwise want to premium luxury models such as the BMW 7-series or Mercedes-Benz S-class.

Not come close to the Equus rivals out of the box beat out about 2,000 sales per year. Yet the move in luxury Hyundai, in particular "a very good way to brand image improve" gave, said Joonhong Park senior program manager working on 2014-remake of the Genesis model.

The new model will be a "game-changer", added Moon Sik Kwon, leader who is Hyundai Motor Group R & D Center directly in front of the Korean capital of Seoul, since it covers from the 2015 model for the premiere to a group of U.S. automotive journalists stretches.

It takes a less anonymous design, according to the direction, the Hyundai with other, more mainstream products, such as the edgy Sonata and Elantra compact models took to the new model. But in line with the target group, the 2014 Genesis sedan adds even more luxury touches, both on new high-tech features such as a radar and camera-based collision system, as well as traditional, high-line features, such as leather and wood.

Hyundai hopes to increase the demand for the new model - in the United States and other global markets. It could also promote indicating Korean carmaker expanding of its luxury lineup, Kwon, playing that works the company on a range of other upscale models. More could be in the lineup before the end of the Decade.

And as indicates the K900, siblings similar, upscale ambitions in mind brand KIA. The new model could be a bit cheaper product on a par with the Hyundai Genesis, company officials note follow.

But why are the Korean automaker so intent on upscale move? There are a variety of factors. On the one hand, luxury vehicles offer higher margins than base level vehicles such as an accent or Rio, where the market is extremely competitive for budget buyers.

There is also the question of the image, as Park points out. The original Genesis helped Hyundai on the card for shoppers who had long dismissed the brand. According to John Krafcik, CEO of Hyundai Motor America, has doubled the larger of the Korean producers about its reputation among U.S. buyers since the Genesis debuted.

But analyst main source River believes that another factor, on the minds of the Korean planners, with a weight of is. "Clearly," he said, "the Koreans have realized that the Chinese will - finally come to them and see them."

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