Hyundai weighs 3rd luxury car, small crossover

The Equus, above, and Genesis may be joined by a third luxury nameplate “within a couple of years.”
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Hyundai may add a third vehicle to its luxury-car lineup and is considering building a compact crossover.

Dave Zuchowski, CEO of Hyundai Motor America, said the Korean brand may have room for a premium model to join its Equus and Genesis sedans.

"That's one of the conversations," he said. "I think it's fair to say that within a couple of years there may be another premium" nameplate. "That's a space where we think there's some opportunity."

Zuchowski: "We're always looking."

A luxury sports sedan close in size to a BMW 3 series -- known internally as "RK" -- has been expected to join the lineup, but Zuchowski declined to comment on such a vehicle.

Also under study is an entry in the growing subcompact crossover segment that now includes such vehicles as the Nissan Juke, Kia Soul, Buick Encore and upcoming Honda Fit-based crossover.

"We're always looking at segments that we're not in right now that maybe we should be based on where the market's going," he said. "We're very intrigued by this B-segment CUV."

Zuchowski cautioned that entering too many niche segments can cannibalize sales of existing models. But he said building market share in mature segments is difficult.

"You've got to grow your volume by growing in segments where you aren't right now," he said. "That's what our focus is down the road."

You can reach Ryan Beene at rbeene@crain.com. -- Follow Ryan on Twitter


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