Hyundai pushes premium with the new i40.
Be afraid, be very, very afraid, or so Hyundai seems to be saying as it rolls out the new i40 at the 2011 Geneva Motor Show.
The new model is part of an aggressive product offensive that the Korean carmaker hopes will help it duplicate its stunning success in the American market into a surge of European gains.
In 1994, when I first visited the Hyundai design studio in Seoul, I was amazed to see a slew of drawings on the wall, with names I could not read, but the dates indicated the car manufacturer was dead set on becoming an important player on the global market by 2005.
Now, Hyundai Motor Company is the world’s fourth largest automaker. During the past seven years the brand’s market share has shown a steady increase – notably in Europe, where imports have had an uphill battle.
In 2011, Hyundai sold 382,000 units, good for a market share of 2.6%. By the end of 2012 sales should reach 420,000 units with a 3% market share, it estimates.
To back that up, three models new to the European market were unveiled, all representing the brand’s new slogan: “New thinking, new possibilities.”
Most important, at least from a volume perspective, is the i40, a model that has been specifically developed for the European D-segment in Hyundai’s R&D center in Germany. The maker calls it a “modern premium,” model, which should meet demands of retail and feel buyers. For American buyers, think Genesis sedan.
Its 1.7-liter diesel engine produces CO2-emissions of only 117 g/km, a-best-in-class figure.
The i40 will also offer a new 2.0-liter gasoline engine.
The i40 adds to the growing the i-line, which already included models such as the i10 and i20 and the recently introduced ix35. The facelift of the i10 also debuted at the Geneva show, while the i40, the Veloster and Curb Concept made their European premiere.
Hyundai is also presenting the latest efforts under its Blue Drive sub-brand, demonstrating the company’s efforts to minimise global corporate environmental impact. One of the models developed under Blue Drive is the ix35 FCEV fuel cell electric vehicle.