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Hyundai is on an ambitious journey, spinning off its Genesis and Equus sedans into the foundation of a standalone premium brand.
And while much of that campaign will take place in Hyundai showrooms in the U.S. and beyond, the Canadian market will play host to a direct sales approach à la Tesla, where cars will be available for purchase through online sales and downtown retail and shopping mall locations across the country.
In Vancouver for the launch of the 2017 Genesis G90, the brand’s flagship model and the first to go on sale later this year, AutoGuide.com sat down with Canadian director of Genesis Motors, Michael Ricciuto, to get some insight into how the premium brand plans to operate.
Q: The Genesis and Equus were pretty well received; how do you build on that success with a spin-off premium brand?
A: In 2009 we won North American Car of the Year with Genesis and that was our first attempt at playing in that premium segment. Then with the Equus – which to me was wonderfully executed – we’ve proven that we can build products that can compete against the world’s finest premium brands.
Q: Why now?
A: There’s no really good time when you’re trying to convert products that are in your lineup into a new brand, but when you’re launching your flagship model that’s a pretty good time to do it.
Q: What makes the Genesis brand a viable venture for the Hyundai Motor Group?
A: From a business perspective, obviously we have the mass market brands, so we can leverage the economies of scale from that and design premium products that are a notch above. Plus, it also allows us to develop technologies that the premium segment will pay for, and then those technologies will work their way down into the mass market brands. Without that platform how do you develop things like head-up display? Because you’re never going to do a head-up display and put it in a (Hyundai) Sonata. It’s just too expensive and you’ll never recoup your investment. But you can put it in a (premium car), get the cost down and then, over time, work that into the other products.
Q: What is the approach Genesis is taking going into this? (read the full article)
And while much of that campaign will take place in Hyundai showrooms in the U.S. and beyond, the Canadian market will play host to a direct sales approach à la Tesla, where cars will be available for purchase through online sales and downtown retail and shopping mall locations across the country.
In Vancouver for the launch of the 2017 Genesis G90, the brand’s flagship model and the first to go on sale later this year, AutoGuide.com sat down with Canadian director of Genesis Motors, Michael Ricciuto, to get some insight into how the premium brand plans to operate.
Q: The Genesis and Equus were pretty well received; how do you build on that success with a spin-off premium brand?
A: In 2009 we won North American Car of the Year with Genesis and that was our first attempt at playing in that premium segment. Then with the Equus – which to me was wonderfully executed – we’ve proven that we can build products that can compete against the world’s finest premium brands.
Q: Why now?
A: There’s no really good time when you’re trying to convert products that are in your lineup into a new brand, but when you’re launching your flagship model that’s a pretty good time to do it.
Q: What makes the Genesis brand a viable venture for the Hyundai Motor Group?
A: From a business perspective, obviously we have the mass market brands, so we can leverage the economies of scale from that and design premium products that are a notch above. Plus, it also allows us to develop technologies that the premium segment will pay for, and then those technologies will work their way down into the mass market brands. Without that platform how do you develop things like head-up display? Because you’re never going to do a head-up display and put it in a (Hyundai) Sonata. It’s just too expensive and you’ll never recoup your investment. But you can put it in a (premium car), get the cost down and then, over time, work that into the other products.
Q: What is the approach Genesis is taking going into this? (read the full article)
