Hyundai Motor goes conservative with redesigned Sonata, Genesis

Oct 22 2013, 09:34 IST
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An employee of Hyundai Motor walks past the company's luxury sedan 'Genesis' displayed for visitors after its annual general meeting of stockholders at the automaker's headquarters in Seoul. (Reuters) An employee of Hyundai Motor walks past the company's luxury sedan 'Genesis' displayed for visitors after its annual general meeting of stockholders at the automaker's headquarters in Seoul. (Reuters)
SummaryHyundai is facing fierce competition in its home market of South Korea.

seeks to go up-market with premium models to better compete with rising sales of luxury imports.

"For Hyundai, Genesis will be a make-or-break model. Being the mass-market producer, they need to do it right to win premium image and achieve higher profitability," Chung said.

Even with the new models, Hyundai will have a tough time gaining ground against Japanese and US rivals, said Park Sung-jin, a fund manager at Woori Asset Management, which owns Hyundai shares.

"Gone are the heydays for Hyundai. I doubt whether they can accelerate growth again and repeat the double-digit growth of the past," Park said.

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