Hyundai may soon offer compact crossover, new luxury model

Article by Anita Panait, on February 18, 2014

Hyundai may be coming up with a third member of its luxury-car lineup, which currently consists of the Equus and Genesis sedans. Dave Zuchowski, chief executive of Hyundai Motor America, remarked that the South Korean brand is considering a compact crossover to join its luxury sedan. "That's one of the conversations," he said.

"I think it's fair to say that within a couple of years there may be another premium" nameplate. Many are expecting a luxury sports sedan similar in size to a BMW 3-Series -- known internally as "RK" -- to join Hyundai’s luxury lineup, but Zuchowski declined to comment on the matter. The South Korean carmaker is also considering an entry in the subcompact crossover segment where vehicles like Nissan Juke, Kia Soul, Buick Encore and upcoming Honda Fit-based crossover are competing. 

"We're always looking at segments that we're not in right now that maybe we should be based on where the market's going," he said, adding that they are intrigued by the B-segment crossover. Zuchowski warned that entering too many niche segments could cannibalize sales of current models, noting that building market share in mature segments is difficult. "You've got to grow your volume by growing in segments where you aren't right now," Zuchowski said.

Topics: hyundai, crossover

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