Korean Economy News
Hyundai Motor targets Middle Eastern compact luxury sedan mkt with G70

By Lee Seung-hoon and Lee Eun-joo

South Korea’s largest automaker Hyundai Motor Co. on Tuesday unveiled the G70 compact sports sedan under its standalone luxury Genesis brand in the Middle East for the first time, throwing down the gauntlet to leading compact luxury sports sedan brands, namely BMW and Mescedes-Benz.

The G70 is the third Genesis model to hit the Middle Eastern auto market since Hyundai Motor officially launched its independent luxury car brand in the region in September last year by releasing the bigger luxury G90 and G80 sedans.

The Korean auto giant, eager to accelerate its venture into the Middle Eastern midsize luxury sedan market, which is fiercely competed among global car makers, set up a separate booth for the Genesis cars at the five-day Dubai International Motor Show that kicked off on Tuesday at Dubai World Trade Centre in the United Arab Emirates to showcase the G70 along with the other existing models. It is the third time that the automaker is managing an exclusive booth with a unique design dedicated to the Genesis brand at an international motor show after those in Seoul and New York this year.

Hyundai Motor hopes the G70 can grab the hearts and minds of consumers in the Middle East, helping to boost overall sales of the Genesis cars in the region. The global compact luxury sedan market is currently led by BMW 3-Series and the Mescedes-Benz C-Class.

The Korean automaker will offer the G70 to consumers in the Middle East in two powertrain models - gasoline 3.3 turbo and gasoline 2.0 turbo - of the G70. The G70 sale will begin early next year.

Following the launch in the Middle Eastern market, Hyundai Motor plans to roll out the G70 in Russia, Australia, and North America later. By 2021, the automaker aims to add three new models to the Genesis lineup including sport utility vehicle models. It has so far introduced the G70, G80, and G90.

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