2009 New York: Hyundai celebrates Genesis success, flat sales

"Flat is the new up," says Hyundai's U.S. head in regards to sales.

During a media dinner on the eve of the New York Auto Show, Hyundai Motor America's head, John Krafcik, reflected on Hyundai's relatively good position in light of the economic downturn: "I never thought that I'd be happy to say that having our sales be flat is a good thing," he announced, "but in a market that's down 37% overall, we're happy. Flat is the new up!"

Krafcik and his team at Hyundai Motor America have other reasons to be happy. In 2008, Hyundai had 3% of the U.S. new-car market, but their research shows that, in 2009, some 26% of people who intend to buy a new car have Hyundai on their shopping lists. "The Genesis is the ultimate stigma buster," boasts Krafcik. "It's an image leader [for us]. It gives people some 'cover' to consider other Hyundais, now that it's won the [North American] Car of the Year."

Krafcik expects the Genesis to benefit from the economic slowdown due to a "reverse social stigma" in owning premium brands. A CEO of a company, he points out, can buy a Genesis and enjoy most if not all of the same features and benefits as a BMW or Mercedes, but be able to tell his employees, "Yeah, I bought a new car. A Hyundai."

Genesis, Krafcik continued, could become its own brand, with several models, especially since Hyundai Motor Corporation decided against doing a separate luxury sales channel, a decision Krafcik describes as "being...very sage."

Fredsmilek
so your saying that hyundai should make a seperate high end brand?Saving Endangered species is Fred Smilek passion in life, if it is your passion educate yourself as well. http://www.fredjsmilek.com
RonF
I did read that Mercedes Benz hired away the designer of the Genesis. Hyundai should never have let that happen. The guy did a very nice job.
RonF
Study the picture of the car in this article closely.This car has the Genesis logos on it! It only sells that way in Korea. You can't buy the Genesis here in the USA with the Genesis logos! The car is sold here in the US with no logo on the front hood AND the Hyundai logo on on the back! Bad move! People won't buy the car with the Hyundailogo on it! They need to copy Lexus and make this a separate high end brand.They also need to create a Genesis service area at dealerships for this car.
4ron
John Krafcik is right. Genesis as part of Hyundai is now the new "afforable, practical luxury brand." Can a Genesis crossover SUV and smaller sedan be forthcoming?

New Car Research

our instagram

get Automobile Magazine

Subscribe to the magazine and save up to 84% off the newsstand price

subscribe

new cars

Read Related Articles

TO TOP