January 13, 2016 10:56
Hyundai showcased its recently launched Genesis G90 luxury sedan at the North American International Auto Show in Detroit on Monday.
The G90, sold as the EQ900 in Korea, is the flagship sedan for Hyundai's new Genesis brand.
The company claims some 1,200 staff knocked their heads together for four years to study all the existing luxury models and forge technology-sharing deals with suppliers to come up with the G90.
The Korean automaker said it aims to sell 5,000 G90s in the U.S. per year. Sales of the Mercedes Benz S Class there totaled 21,934 units last year, and of the BMW 7 Series 9,292.
But Hyundai believes Genesis cannot compete head-to-head with the established German brands. Instead, it wants to build up its client base slowly by offering excellent quality at cheaper prices.
Another reason behind the modest target is a focus on qualitative growth rather than quantitative expansion this year.
Early this month, Hyundai set its annual sales target for the new year lower than the previous year, a first for the company, while vowing to focus on research and development to improve quality.
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