Hyundai is no stranger when it comes to jumping into segments that most people wouldn’t expect it to. One of the latest jumps it made was into the luxury segment with cars like the Equus and the Genesis Sedan. With this big leap into the path of BMW and Mercedes, it became obvious that it was time for the brand once known for cheap, disposable cars to look into a luxury crossover.
According to a new report from Reuters, Hyundai has recognized this gap in its coverage, and it is in the process of finding a way to fill it. A Hyundai rep told Reuters, “We are considering developing premium, large SUVs based on customers’ needs. We plan to respond to the fast-changing market centered around SUVs by beefing up our SUV line-up.” This statement leads us to believe that Hyundai is seriously considering the internal proposal to use the hot-selling Genesis Sedan as the basis for a larger luxury crossover.
Despite its interest in growing its SUV lineup, a source indicated that Hyundai is “timid” when it comes to bigger SUVs. These concerns include the fact that the Veracruz never really took off in the American market, the rising fuel prices could curb interest, and whether Hyundai has the powertrains to compete in this segment. In my opinion, the last two questions are easy to answer. First, gas-guzzling SUV buyers will continue buying them for the foreseeable future. Second, Hyundai’s 5.0-liter Tau V-8 and its 420 horsepower is more than enough to compete in this class.
For now, this project is still awaiting the green light. Let us know in the comments if you feel that Hyundai should dive further into the luxury real or leave this segment to the big boys.