Hyundai Planning 3 Series Rival: Report

Hyundai is reportedly planning to take on the likes of BMW and Mercedes-Benz with a new mid-sized rear-wheel-drive sedan. 

According to US industry paper Automotive News, the Korean carmaker is believed to be targeting the 3 Series and C-Class models with the new car. 

Entering below the larger Genesis sedan - the first of Hyundai's luxury-segment cars - the new model will sit well above Hyundai's current front-wheel-drive volume sellers.

The report claims that the new model, known internally as 'RK', will be built on a cut-down version of the rear-wheel-drive platform underpinning the larger Genesis sedan and Genesis Coupe.