Hyundai takes up the gauntlet towards German car makers who brought on its sales decline in South Korea. BMW, Mercedes and Audi for two consecutive years were importing fuel-efficient cars what resulted in taking market shares from Hyundai.
The answer from Korean producer is a new model, front-wheel drive premium sedan, codenamed AG which is beign shown today at Busan International Motor Show. At the same time Hyundai presents Grandeur with diesel engine which is about to be sold in the second half of the year.
“Our high-end customers seeking to move up from the Grandeur sedan started to turn to imported brands,” says Kim Sang Dae, director at Hyundai Motor’s domestic marketing group. “The price gap between the Grandeur and the Genesis, which are priced at around 30 million won and 50 million won, respectively, seemed to play a part.”