Buoyed by the success of the Hyundai Genesis luxury sedan, Korea's biggest automaker is going upmarket.

Autoblog reports, "According to an anonymous source at Hyundai, buyers in the U.S. will get their first crack at the Hyundai Equus sedan beginning next July, with a cost of entry somewhere south of $60,000."  The sedan will be aimed "to compete with the similarly priced Lexus LS460 ($64,700), while offering more luxury amenities including reclining rear seats, massagers and LCD displays" -- and a lower price.

AutoWeek adds, "The rear-wheel-drive car is based on the Genesis platform. At 203.1 inches, the Equus is 7.2 inches longer than the Genesis and powered by the same 3.8-liter V6 and 4.6-liter V8 engines. Sources say Hyundai will bring only the V8 model here." 

The Genesis, the 2008 North American Car of the Year, succeeds by bringing some equipment from the $50,000 luxury car class into the price range of near-luxury buyers spending tens of thousands less.  Hyundai apparently hopes to repeat the feat, challenging super-luxury cars like the Lexus LS and BMW 7-Series with a similar car that undercuts their price significantly. 

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