Mike Sinclair•17 Jan 2014
NEWS
No price set for Aussie Genesis
Hyundai Australia says it's still to set pricing for its new rear-drive luxury carHyundai Australia will launch the new rear-drive Genesis luxury sedan Down Under in July, but final specification and pricing are both yet to be set. Indeed, the Korean car-maker claims it has yet to even finalise the local model walk for the car.
Unveiled at the North American International Auto Show (NAIAS) in Detroit this week, the new Genesis is the second generation of Hyundai’s luxury model. Although offered in V8 and all-wheel-drive variants as well in the USA, Australia will be limited to a naturally aspirated 3.8-litre petrol V6 powertrain only.
A development of an existing Hyundai engine, the direct-injected V6 produces an impressive 248kW and 397Nm. It’s matched to a multi-mode eight-speed automatic gearbox. The new Genesis also features an all-new body-in-white that’s claimed to be stiffer in both torsional and bending rigidity than the BMW 5-series.
But that’s about all we know for certain, Hyundai Australia is being tight lipped about its plans for Genesis Down Under. It’s not talking price, specification, nor volumes.
“We can’t tell you a lot at this stage,” Hyundai’s head of communications, Bill Thomas told motoring.com.au in Detroit.
“Our first Genesis arrived at our Australian headquarters very recently. Our product guys are working on it but we are still to finalise many details,” he said.
Thomas explained it is Hyundai’s practice to continue final product tweaks right up until launch.
“Most Japanese brands, for example, have a product freeze many months out. That’s not how Korea does things.”
Pricing is key to the success of the Genesis Down Under. A step-change for the brand in terms of segments in which it competes and the level of finish and equipment the Genesis potentially delivers, Hyundai Australia can ill-afford to get it wrong.
Locally we’re tipping a two-variant strategy, perhaps with a well-equipped ‘entry’ level variant priced around $55,000. That would allow Hyundai Australia to offer a premium model perhaps in the mid to high $60K range. That said that’s OUR speculation.
The outgoing V6-powered Genesis ‘1’ was priced from around $US35,000 in the US market, with the top-line V8 R-Spec around the $US50,000 mark. That compares to Chrysler’s 300 line-up ranging from $US29-64,000 (approx) and a circa $66,000 sticker price for BMW’s V8-powered 550i.
By way of comparison, the latest Commodore-based Chevrolet SS is priced from $45-52,000 in the USA.
The all-new Genesis has substantially higher levels of finish than the first generation car. It also offers a range of new features and systems including autonomous anti-collision braking, adaptive cruise control, lane-keeping systems and advanced telematics featuring Hyundai’s latest Blue Link and Genesis Intelligent Assistance systems.
Based on the Detroit show cars, fit, finish and material qualities are top notch.
Hyundai Motor American CEO, David Zuchowski, told motoring.com.au, that the company hopes to launch the new generation with minimal changes to price tags. It seems the US arm too is in the same boat as Hyundai Australia – at least as finalising a price list is concerned.
“We haven’t finalised pricing,” Zuchowski told motoring.com.au in Detroit.
“On a comparable equipment basis, it may be a little bit more expensive than the vehicle we’ve got right now, but in terms of the segment, we’re just going to continue to be great value.
“We hope to have finalised pricing in the next 30 to 45 days,” he said.
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Written byMike Sinclair
Our team of independent expert car reviewers and journalists
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