Hyundai Motor Group Chairman Chung Mong-koo flew to the United States Monday ahead of the launch of the new Genesis brand flagship sedan G90 (or EQ900 in Korea) planned for later this month. Chang will be staying in Los Angeles to examine U.S. operations.

The U.S. auto market has been sluggish since 2013. Concerns for interest rates heading higher further dampened consumer appetite for new cars this year.

Even as auto sales in the U.S. stopped at 1,167,000 units in the first eight months, 0.5 percent on year, sales of Hyundai Motor Co. and its sister company Kia Motors Corp. were above the average gain with a rise of 2.5 percent to 964,000 units. The two automakers made up 8.3 percent of the total sales in the American automotive market, up 0.2 percentage point from a year ago.

The U.S. is the second-largest car market after China, accounting for 18 percent of the two carmakers’ outbound shipment. Yet the market remains important to test a new model. During his visit, Chung will reiterate the company’s focus on luxury sedan, eco-friendly cars and sports utility vehicles. The U.S. market is pivotal for the success of its luxury lineup.

Since its launch in 2010, the Genesis’ market share first exceeded 10 percent in the U.S. mid-luxury car market last year, having sold 24,917 units. As many as 18,578 units were sold in the first eight months, recording a market share of 13.8 percent.

The G80, first stand-alone model of the Genesis brand launched last month sold 1,497 units pushing up the entire American sales of the Genesis lineup by 27.6 percent. The new 2017 G80 price starts at $41,400, about the average price of mid-luxury sedans in the States, and $2,650 more expensive than its predecessor.

The G90 fitted with 3.3-liter twin-turbocharged V6 engine is priced from $68,100.

By Noh Won-myung

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]