DETROIT -- Hyundai will maintain its sub-$40,000 sticker price for its second-generation Genesis premium sedan when it goes on sale this spring, the company said today.
The 2015 Genesis, revealed at the Detroit auto show today, rides on a new rear-wheel-drive platform that now includes optional all-wheel drive, a first for a Hyundai sedan. The Genesis gets power from either a 3.8-liter V-6 engine generating an estimated 311 hp and 293 ft.-lbs. of torque, or an optional 5.0-liter V-8 producing up to 420 hp.
The company didn't release pricing details, but said the entry-level 2015 Genesis would start at less than $40,000.
Hyundai dipped its toe into the luxury market when it debuted the Genesis five year ago, and the newcomer has been well-received. The Genesis became the first Korean car to win North American Car of the Year in 2009 and, sales increased every year after its introduction, before slipping 5 percent to 32,330 in 2013.
Hyundai says the second-generation Genesis' improved ride and handling, a more refined interior and a major injection of technology will help it compete more closely with German rivals such as the BMW 5 series and Mercedes-Benz E class.
"Market expectations for the new Genesis are understandably high, and we're confident the Genesis' combination of superb dynamics, bold design, class-leading safety and driver-focused technologies will exceed those expectations by a large margin," Mike O'Brien, vice president of product planning for Hyundai Motor America, said in a statement.