Hyundai is planning to add an all-new rear-wheel-drive premium car to its portfolio. Internally called ‘RK’, the fourth premium car in the Korean manufacturer’s lineup will battle it out against the likes of the BMW 3 Series and Mercedes C-Class, Audi A4 and the Lexus IS.
Though Hyundai did have a contender in this competitive segment, the Genesis, the 2015 model of the car has received quite significant updates, moving it up the ladder, both segment and price wise. Developed at Germany’s renowned racetrack, the Nurburgring, the 2015 Genesis for the first time will be offered as an all-wheel drive vehicle. This has led to a jump in price of USD 2,830 (Rs 1.7 lakh), moving it a price bracket above its rivals, pitting it against the 2014 Acura RLX, Infiniti Q50 and BMW 5 Series.
Hyundai claims that they have always been exploring new segments based on the market's demand. Speaking to Edmunds, Dave Zuchowski, Hyundai Motor America CEO said that the positioning of the 2015 Genesis has made space for a car to slot beneath it. Zuchowski added that if green-lighted, this new car might take at least four to five years to get into production. Hyundai currently has three premium cars in its lineup, the Equus sedan, Genesis and the Genesis coupe.
Recently, Jaguar also announced their entry into this lucrative segment, with the new XE sedan. The car has been spotted testing quite a few times and has also been previewed by Jaguar themselves. The Korean manufacturer has established its hold in the India with its stylish and well-engineered cars and decent value for money. In a market like India, where brand value is a major influencing factor in premium segment, Hyundai has refrained from bringing their premium offering here, though the new 3 Series rival might be a good segment to start with.