Hyundai Motor to Release "AG" to Cope with Onslaught of Import Cars

SEOUL, KOREA - Hyundai Motor showed off the exterior design of a new large sedan "AG (code name)" first at the 2014 Busan International Motor Show. The car maker has developed the AG to cope with the increasing popularity of import cars in the domestic market. 

 

At the Motor Show, Hyundai Motor also revealed a new Grandeur model with a diesel engine. Hyundai Motor and its affiliate Kia Motors are working on a number of initiatives to protect their domestic market share which recently fell to below the 70-percent level.

Kwak Jin, vice president of Hyundai Motor, said, "AG, together with Grandeur and Genesis, would play a significant role to protect our share against import cars, as well as to further improve our brand image."

The AG is expected to be launched in October 2014, about two months ahead of its original date of launching previously set at the end of this year. 

The AG is a large luxury sedan which is bigger than the Grandeur but smaller than the Genesis. As a front-wheel drive sedan, the AG will be produced at Hyundai Motor's Asan plant which is currently engaged in the production of Grandeur models. 

The domestic market share of Hyundai Motor and Kia Motors fell to 67.7 percent in the January-April period of this year from 71.1 percent in 2013 and 74.2 percent in 2012.