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Genesis Tops Survey Of South Korean Car Brands In 2017

By March 7, 2017 at 1:06 am
The Genesis scored 873.7 points on a scale of 1,000 in the Brand Stock Top Index, making it the highest ranked car among local brands in 2017. (Photo : Chung Sung Jun/Getty Images)

The Genesis, Hyundai Motor Co.'s separate luxury brand, topped a survey for this year measuring South Korean automobiles, the first time that the brand achieved such feat.

South Korean market research firm Bradstock, on Tuesday, said that its Brand Stock Top Index (BSTI) showed the Genesis got 873.7 points on a scale of 1,000, making it the highest ranked car among local brands.

This year's BSTI score for the Genesis marked an increase from last year's 857.5 points when it finished third in the ranking. The brand ranked eighth in 2015 and seventh in 2014, according to a report by the Yonhap News Agency.

The Genesis was originally South Korean automaker Hyundai Motor's premium vehicle model. In November 2015, Hyundai made it a separate luxury brand as it tried to better compete with foreign-made luxury cars.

In a report by BusinessKorea earlier this month, global sales of South Korean carmakers rose in February from the same month last year, with rising sales both at home and overseas. Hyundai Motor's Grandeur sedan and Renault Samsung's SM6 sedan are among the most popular brands last month, boosted by strong domestic sales.

Hyundai Motor posted an 8.7 percent on-year increase in domestic sales jump to 53,113 vehicles in February. Its smaller affiliate Kia Motors saw a slight gain of 0.1 percent in domestic sales to 39,158 units during the same month.

However, Kim Pil-soo, a professor of automotive engineering at Daelim University, warned that the auto industry shouldn't be misled by the rosy picture shown by February's sales results. 

Kim said that the increase in sales last month was due to promotional events and new models and that the conditions are actually worse due to the anti-graft law, economic weakness and emergence of China-based automobiles, according to a report by The Korea Herald.

The Genesis was followed by GM Korea Co.'s Spark city car with 846.6 points, which ranked second. Ssangyong Motor Co.'s small SUV Tivoli was ranked third with 832.5 points and GM Korea's Malibu midsize sedan was fourth with 826.8 points. 

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