As fuel prices remain relatively stable under the $3 per gallon mark across the greater United States, luxury SUVs are all the rage. Bentley is the latest to join the arena with its long-awaited Bentayga SUV preparing for launch, with plenty of interest to boot.
Hyundai may not be ready to challenge the likes of Bentley, but it is considering a large-luxury SUV based on the full-size rear-wheel drive Genesis platform.
The report comes from Reuters, and says the Korean automaker is carefully considering the move as it studies fuel prices in the U.S. Cousin Kia and its short-lived Borrego failed drastically as fuel prices spiked, and the SUV market diminished. Hyundai wants to be sure it doesn’t make the same mistake twice. The current Hyundai Veracruz, the brand’s largest SUV, also doesn’t help the scenario. Poor sales have the brand pulling the plug on the Veracruz in July.
“This does not mean we are giving up on a large SUV line-up… 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,” a Hyundai representative told Reuters.
Other factors that may hold a Hyundai Genesis based SUV back are production capacity, and the automaker’s lack of relevance in the segment.
Judging by current Hyundai Genesis sales, as the luxury sedan outpaces the entire lineup, the Genesis badge could appeal to a buyer lacking in Hyundai showroom. Genesis sales grew by more than third through May of this year.
If a Hyundai Genesis based luxury SUV does come to market, expect it to show face within two, to three years.