Hyundai Genesis wins U.S. residual value title in premium fullsize segment
SEOUL, Nov. 18 (Yonhap) -- Hyundai Motor Co., South Korea's No. 1 carmaker, said Tuesday that its Genesis sedan won the 2015 Residual Value Award for premium fullsize cars sold in the United States, a recognition that the car and the brand are making solid headway in one of the largest automobile markets in the world.
The award announced by the Automotive Lease Guide (ALG) placed the premium sedan that started reaching the North American market earlier in the year, ahead of such rivals as the Volvo XC70, Lexus GS, Audi A6 and BMZ 5 series cars.
Hyundai Motor Co.'s Genesis premium sedan. (Yonhap file photo)
ALG's rating is important because it takes into account overall quality, commercial value, brand equity and sales strategy that can affect the price of an individual model three years down the road. The evaluation is used as a key reference point when U.S. consumers buy cars.
The guide said that Hyundai has been building its credibility in the luxury market, and the all-new Genesis sedan makes a big statement that the brand is ready to fully compete in the premium fullsize segment. It added that by pricing the car over $10,000 less than is typical for the segment, the carmaker has created an incredible value story that strongly boosts the residual forecast.
The car also received high marks for its auto emergency braking, advanced smart cruise control and other safety features and amenities.
The Genesis received the Insurance Institute for Highway Safety's "Top Safety Pick+" award in May, after getting the best ratings in all categories tested.
"The award is noteworthy because it signifies the excellence of Hyundai-made cars and can be viewed as recognition of the brand," the company said.
Besides the Genesis, its Sante Fe crossover and Sante Fe long-wheel-base placed second and third, respectively, in ALG's ratings for midsize two-row seat SUV and midsize three-row SUV segments. The new Sonata finished third in the midsize car class, while the Azera finished third in the fullsize segment.
Kia Motors Corp, Hyundai's corporate cousin, meanwhile, said its K900 luxury car ranked third in the premium executive car segment, with its Soul coming third in the subcompact utility vehicle category. The carmaker said its all-new Sedona minivan ranked second in the segment right after the popular Honda Odyssey.