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Hyundai to challenge Germans with luxury car aimed at European diplomats

Published on Feb 26, 2014 6:23 AM
The logo of Hyundai Motor is seen on the glass door at its branch in Seoul on Jan 23, 2014. -- FILE PHOTO: AFP

LONDON (REUTERS) - South Korean carmaker Hyundai will try to lure away high-end European buyers including diplomats from their comfort zone of German luxury models with a new, pricier Genesis car to be launched next month.

The traditionally mass-market producer, which has focused on the value end of the market, said on Tuesday it would launch its latest Genesis sedan in Europe at the Geneva International Motor Show next week, eying German premium rivals.

Several car manufacturers including BMW, Audi and Daimler dominate the premium market in countries such as Britain where German brands hold a more than 80 percent share of the top-end market.

Hyundai Europe Vice President and Chief Operating Officer Allan Rushforth gave no price for the new model, but said only a fairly small number of vehicles would be marketed, with a focus on niche buyers.

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