ANN ARBOR, Mich. (Reuters) -- Hyundai Motor Co. 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 today.

"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.

Early sales data shows that 44 percent of Genesis buyers have household income in excess of $100,000 annually, Krafcik says. That is "new territory" for the Hyundai brand, he says.

The company expects to sell 8,000 Genesis units in calendar 2008, Krafcik says. While 50,000 is the eventual annual goal, Krafcik said 2009 sales projections are not finalized.

Hyundai will maintain a strong Genesis lease program, Krafcik says. "We haven't been a big lease brand," he says. But 49 percent of premium vehicle transactions are leases and "we have to play in that," Krafcik says.

Krafcik also deemed it "unlikely" that Hyundai would bring to the United States the i10, a five-door hatchback produced in Chennai, India.

"It's very unlikely we would bring the i10 to the United States," Krafcik says. "We're looking at it. But right now it's unlikely."

The i10 is a small car sized between the Smart ForTwo and the Honda Fit. Earlier this month, Automotive News reported that the car could be marketed in the United States as a Hyundai or a Kia or both.

Launch of first hybrid

Hyundai also expects to release its first hybrid in the U.S. market as early as 2010, featuring cutting-edge lithiu-ion battery technology, Krafcik said.

The automaker plans to offer a hybrid version of the Sonata sedan for American consumers and would introduce a prototype of the vehicle in November.

"Our first U.S. hybrid is going to be the Sonata," Krafcik said.

When asked about the timing, Krafcik said that the Sonata hybrid was likely to be launched in the 2010 calendar year.

General Motors is readying a rechargeable electric vehicle, the Chevrolet Volt, using lithium-ion batteries, which are now widely used in consumer electronics. The Volt is also on track for a 2010 launch.

Krafcik said the Sonata hybrid would not be rechargeable. "It's not a plug-in," he said.

[Source; Automotive News]