In support of its luxury car brand — Genesis Motors — Hyundai Capital America, Inc. announced yesterday the launch of a new captive finance arm called Genesis Finance.
The new captive will offer “priority consideration and funding” for the company’s Genesis G90 and G80 vehicles through dedicated loan and leasing plans, according to a company press release.
“This is an exciting time for our company, as we have the rare opportunity to reinvent what we do in order to create a new, premium customer experience for both dealers and consumers,” Tim Devine, senior vice president of HCA’s dealer services division, said in the release.
Genesis is the first new luxury car brand to launch in the U.S. since Tesla in 2004, and Hyundai has plans to expand the line to six vehicles by 2021, according to a published report in Motor Trends. The line will include not only the current G80 and G90 sedans, but also a sports coupe and midsize and compact SUV.
Genesis in the U.S. launched in August, and “this launch is just the beginning of many great things to come,” Devine said in the release.
