The Rise of Hyundai Motor Group: A Global Automotive Powerhouse
Over the course of this century, Hyundai Motor Group (HMG) has experienced a remarkable surge in growth, propelling it to the position of the world’s third largest car maker, trailing only industry giants Toyota and the Volkswagen Group.
Within HMG, alongside the well-established Hyundai and Kia brands, a new player has emerged on the premium automotive scene – Genesis. According to Ashley Andrew, the managing director of Genesis UK, there is a strong belief within HMG that Genesis is poised for great success. The focus now lies on determining the timing and strategy for achieving this success.
While the outlook for Genesis appears promising, the road to establishing a successful premium brand is notoriously challenging in today’s competitive automotive landscape, especially in the European market. The experiences of luxury marques such as Infiniti, DS, and Lexus serve as a reminder of the formidable obstacles that new entrants face in this segment.
