Hyundai is looking at the opportunity to add a third vehicle to its U.S. luxury-car lineup, while also considering launching a sib-compact crossover. CEO of Hyundai Motor America, Dave Zuchowski, said the carmaker may have room for a premium model that would sit alongside the Equus and Genesis sedans (pictured).
“That’s one of the conversations,” Zuchowski was quoted as saying by Automotive News. “I think it’s fair to say that within a couple of years there may be another premium nameplate. That’s a space where we think there’s some opportunity,” the executive added.
Hyundai is rumored to be preparing a luxury sports sedan close in size to a BMW 3-Series, known internally as “RK”. However, Zuchowski didn’t say anything about such a model.
The Korean carmaker is also considering entering the subcompact crossover segment, which includes vehicles such as the Nissan Juke, Kia Soul, Buick Encore and upcoming Honda Fit-based crossover.
“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,” Zuchowski said. “We’re very intrigued by this B-segment CUV,” he added.
However, the executive said that the downside to entering too many niche segments is that sales of existing models can be cannibalized by the new ones. Still, launching niche models is an alternative to increasing market share in established segments, which is very difficult to accomplish at the moment. “You’ve got to grow your volume by growing in segments where you aren’t right now,” Zuchowski was quoted as saying.
By Dan Mihalascu
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