On Wednesday Hyundai finally announced what many have been speculating for years: that it will spin off a new luxury brand under which it will sell its Genesis, Equus and Coupe models. The brand will be named after the most popular model of the three, the Genesis, taking advantage of the name recognition it has earned since its 2008 debut. It will be the first major luxury brand created since Infiniti, the last of the Japanese luxury brands, came to the market in 1989.
So, what should we think of this? Does Genesis have a chance to succeed in the increasingly crowded luxury market, or does it not have a snowball’s chance in hell? Here are three reasons why I think it could succeed: [Read more…]