Next year might be tough for Hyundai Motor Co, but it could also be a turning point.
"We are refurbishing our brand image in China," says Young-Key Koo, chief representative of Hyundai Motor China for sales and marketing.
Hyundai was the No 2 imported auto brand in the first half of this year, trailing only Japanese rival Toyota, according to statistics from the State Information Center,
It has sold 24,000 vehicles in China so far in 2007, an increase of 11 percent year-on-year, Koo tells China Business Weekly.
"Improving a brand image from a taxi to a luxury sedan is not easy or simple in the short term," Koo admits. He says that Hyundai will introduce two more luxury models to China next year.
Then we will keep the pace of introducing one or two new luxury models every year to reinforce our premium brand image. We have the same strategy as our Japanese rivals," Koo says.
"In 2010, we will officially launch our luxury brand name and logo along the lines of Toyota's Lexus, Nissan's Infiniti and Honda's Acura. All of our luxury models will have the new badge."
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