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Hyundai targets 50,000 US sales of Genesis models

Wed Aug 20, 2008 12:42pm EDT

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ANN ARBOR, Mich., Aug 20 (Reuters) - Hyundai Motor Co (005380.KS) expects to sell up to 50,000 of its new premium Genesis model in the U.S. market once both the sedan and an upcoming coupe version are in showrooms, a Hyundai executive said on Wednesday.

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"I think it's reasonably achievable," Hyundai vice president for product development John Krafcik told reporters.

Krafcik said Hyundai could sell up to 20,000 of the sedans and 30,000 of the coupes annually.

The Korean automaker is counting on the launch of the Genesis to boost Hyundai sales and improve the image of a brand that got its start a decade ago in the U.S. market as a cheaper alternative to established automakers.

The Genesis sedan, which starts at $33,000, went on sale in late June in the United States. Production of the coupe model will begin in December in Korea. (Reporting by Kevin Krolicki; editing by John Wallace)

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