The Korea Herald

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Hyundai Equus sets record sales in U.S.

By Korea Herald

Published : Sept. 15, 2013 - 20:47

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The Hyundai Equus The Hyundai Equus
One out of 10 “luxury cars” sold in the United States last month was Hyundai Motor’s flagship premium sedan Equus, with the sales figure exceeding the 400 mark for the first time.

According to industry data, the Equus sold 435 units last month in the U.S., up 73 units from the previous record of 362 set in July last year.

Boosted by the record sales, its market share in the U.S. premium car segment, which used to hover at 6 to 7 percent has soared to its highest-ever level, 9.7 percent.

In the world’s largest luxury car market, where the BMW 7 Series and the Lexus LS dominate a combined 40-percent market share, the Equus has continued narrowing its sales gap with the top players since its debut in 2010.

Now, there is no big difference seen in the market position between the Equus and other big names such as the Audi A8, Jaguar XJ, Porsche Panamera and the Mercedes-Benz S-Class, which claims 10 to 12 percent of the market.

Hyundai, which has been desperate to lure luxury customers for years, attributed the strong performance to the recent launch of the sedan’s facelifted version that is newly equipped with high-end features such as “head-up” displays and the “around-view” system.

“It’s very encouraging that the facelifted version is selling strong despite price hikes. The Equus would add premium image to our Hyundai brand overall,” said a Hyundai official. The new Equus price was bumped to range from $61,000 to $68,000, up to $1,750 more expensive than the previous model.

By Lee Ji-yoon (jylee@heraldcorp.com)