AutoBeta(AutoBeta.net)10/22 Report--

Hyundai Motor's luxury brand Genesis is about to enter the Chinese market, and the official name of Genesis in China has been officially announced-Genisse. The second General China International Import Expo unveiled the new Genisse G90, GV80 concept car and Mint concept car on Nov. 5, officials said.

The Chinese name of Genesis is "Gaines", which is familiar to Chinese consumers, but Hyundai finally confirmed its name Genisse. It is understood that Hyundai Motor has established "Genisse Automobile sales (Shanghai) Co., Ltd." in Shanghai in 2018, taking the first step to make Genisseth enter China's luxury car market. At the same time, Hyundai also plans to set up a sales legal person in other big cities outside Shanghai, with a view to officially launching sales in China by the end of 2019.

Genisis faces competitors in the Chinese market, such as Mercedes-Benz, BMW and Audi. Hyundai plans to export a series of products made in South Korea to China and observe the market response before considering whether to build a plant and put into production in China. At the product level, Genisse will bring a variety of cars and SUV products, SUV models including GV80, GV70 series, and G70, G80, G90 and other full range of cars are expected to gradually cover in China.

Take the G90, the flagship product of Genisse, as an example, the car is positioned as a luxury large sedan, the new car is broad and square in appearance, the large-size mesh intake grille is very domineering, and the dense spoke rims highlight its high-end positioning. The power of the car is equipped with 3.8L V6 naturally aspirated engine and 3.3T V6 twin turbocharged engine, and the transmission system matches the 8-speed automatic transmission.

It is understood that as early as 2017, Hyundai has started market research work on Genisys' entry into China. Genisse also sold some of its "Gaines" products in China before the brand became independent, but the sales were very poor.

Hyundai Seth is an independent high-end car brand launched by Hyundai in 2015, and then launched in the United States, Canada, Russia, the Middle East and other markets. Hyundai said it wants to build it into an independent brand with a complete product lineup, improve the brand value of Hyundai cars, and improve corporate profitability, and put forward plans to complete six product lineup by 2021, covering different segments such as SUV and sports cars.

At the initial stage of sales in the Chinese market, Hyundai plans to produce Genisse-branded cars in South Korean factories and import them to China, and then consider whether to put into production in Chinese factories according to the performance of the products in the market. The head of the Genisseth team also said that Hyundai may gradually consider a semi-domestic model of assembly and production at Hyundai's joint venture in Beijing after parts are imported into China.

Manfred Fitzgerald, senior vice president of Genisse, once said in an interview, "before you really enter a new market, a brand should build a reputation, and of course, a good product is essential to success." Once these preparations are done, Genisse will enter the Chinese market. " Fitzgerald also said that it is more important for consumers to understand the purpose and goals of the company and to get consumers to buy a good car.

Hyundai introduced the luxury brand Genisse and valued the future development prospects of China's luxury car market. With the influence of macroeconomic downturn, consumer upgrading and other factors, sales in the domestic car market are low, but the luxury car market is growing against the trend.

The domestic luxury car market is relatively stable, with the first-line formation represented by Mercedes-Benz, BMW and Audi, the second-line formation represented by Cadillac, Lexus and Volvo, and the third-line formation with small sales such as Lincoln and Infiniti. As a new brand, how to position Genisse, and whether there is any hope in the market, we will wait and see.

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