Hyundai’s new beginning

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Hyundai is moving upmarket. This is the Genesis, a rear-drive sedan with BMW, Mercedes-Benz and Lexus buyers as its target market. Only there’s one big difference: the cheapest, V6-powered model should cost around $30,000. Even the specced-to-the-nines V8 version shouldn’t be more than $40,000.

While clearly taking the Lexus approach, Hyundai is not following Toyota’s example and creating a new, high-end brand -- which could be brave or crazy, depending on how well the Genesis is received. But there’s no denying that its products have been steadily improving in quality, scoring well in customer satisfaction surveys.

The Genesis goes into production this month, going on sale first in its home market of South Korea, then expanding into China and North America during the first half of 2008. There are interesting times ahead, not least for the major players in this segment.

-- Colin Ryan