New Equus Set Against Mercedes, Lexus
By Kim Hyun-cheol
Staff Reporter
To Hyundai Motor, Korea's largest carmaker, the new Equus means more than just a new product. The premium sedan, which was launched Wednesday, is an outcome of the maker's long-cherished efforts to compete at the same level as acclaimed marquees such as BMW, Mercedes-Benz and Lexus on the domestic and global high-end markets.
``It's important to sell the Equus. Hyundai's brand recognition will make big strides with this new product,'' Hyundai-Kia Chairman Chung Mong-koo said Wednesday at a launching ceremony at Seoul's Hyatt Hotel. ``An enormous number of Hyundai people worked hard to bring the vehicle to life. I am sure it can stand comparison with any other luxury brand in the world.''
The overall auto market is fluctuating amid the global economic crunch, but sales will surely go upward within two or three years, he said in front of some 1,000 guests including Prime Minister Han Seung-soo.
The Equus, which comes in two sizes ― with 3.8- and 4.6-liter gasoline engines ― is Hyundai's second rear-wheel drive vehicle following the Genesis last year. A total of 500 billion won ($337.7 million) was invested to develop the new flagship sedan over the past three years.
It's the first upgrade in a decade of its previous edition. The original Equus, designed by Japan's Mitsubishi Motors, debuted here in 1999.
In the Korean market, the vehicle will be sold from 63.7 million won ($43,113) to 105.2 million won ($71,201). Hyundai said it has already secured some 2,500 advance orders and aims to sell 13,000 vehicles domestically this year.
Hyundai expects the product to contend with Lexus LS, Mercedes-Benz S-Class and BMW 7-Series. After the model was first revealed to journalists last week at the maker's Namyang Technology and Research Center in Hwaseong, Gyeonggi Province, the preview event included a test drive, in comparison with top-line models in the same class, such as the 350 and 500 Mercedes S-Class models and the Lexus LS.
Officials have recently confirmed with U.S. publication BusinessWeek that the Equus will debut in America early in the next decade. Before hitting the U.S. market, Hyundai will first sell the sedan in China, Africa and the Middle East this year. Sales will commence in China from June, and it aims to sell 3,000 vehicles in its first year.
Compared to its old version and the Genesis, the new Equus is a step-up in both performance and applied technology.
Advanced features include a parking-guidance system, adaptive headlights, a pre-safe seat belt, radar-based active cruise control, lane-departure warning and an automatic collision-warning and avoidance system. Other additions include climate-controlled seats, a 17-speaker Lexicon sound system and a 3.5-inch color LCD information screen in the instrument cluster.
It also outperforms its old equivalent in fuel economy. Its VS380 trim line with a V6 3.8-liter engine, for example, covers 9.3 kilometers per liter of fuel, while its previous edition, JS380, drove 7.6 kilometers per liter.
In terms of interior style, Hyundai describes it as ``sumptuous,'' by featuring a rich blend of exotic-wood trimming and fine leather. Three interior and seven exterior colors will be offered.
On launching, Hyundai started a special service package for buyers of the luxury sedan.
In the Equus Prestige Program, customers will be given a five-year, 120,000-kilometer guarantee for the engine, transmission and other parts, as well as seven free engine oil changes over five years and a five-year free emergency call-out service. They will also benefit from a two-year free service of Mozen, Hyundai's cutting-edge telematics system.