Hyundai to launch premium car in US next year
SEOUL -- Hyundai Motor Co. , South Korea's top auto maker, plans to launch a car aimed at the U S premium segment next year.
Hyundai, the world's number six auto maker along with its affiliate Kia Motors Corp. by sales volume, is targeting the global luxury car market in a bid to upgrade its image and convince the public that the company does not just make economical cars.
"We will launch the BH in the first half of 2008 in South Korea and will begin to sell the premium sedan in the United States, the major export market for the model, late 2008," said Hyundai spokesman Jake Jang, using the car's code name.
The new model, which Hyundai hopes will compete with
Hyundai aims to sell about 20,000 units of the BH in the United States a year, another Hyundai official said .
Hyundai needs to add premium models, which carry higher margins, to its line up to boost profits amid unfavorable business conditions such as a stronger won currency and weaker domestic demand, analysts say.
