It has been Hyundai Motor's long-time wish to have a model to contend on the same level as leading global carmakers in the industry's most prestigious market. Now, it's set to launch the Equus, the maker's latest flagship sedan, and the bottom line is how well it will sell.

The carmaker revealed the next-generation model Tuesday at an exclusive media preview event, which was held at its Namyang Technology and Research Center in Hwaseong, Gyeonggi Province.

As if to reflect the company's confidence in the new product, a totally upgraded edition of its previous namesake model, the event included a test drive, in comparison with top-line models in the same class, such as the Mercedes-Benz S-Class (350, 500) and the Lexus LS (460), all of which are recognized as Equus' main rivals in the market.

Featuring a plethora of high-tech gadgets and safety options, the new Equus will initially be available with 3.8-liter V6 and 4.6-liter V8 engines, giving 290 and 366 horsepower, respectively, and equipped with a six-speed automatic transmission. A 5.0-liter V8 will also make its way into a long-wheelbase variant, according to some reports.

The new model is scheduled to be available for general customers next month, most likely March 11, while the timetable is not yet confirmed for the overseas market. Prices haven't been revealed either, but are expected to start from 63 million won ($43,000) domestically.

Hyundai said it aims to sell 13,000 vehicles of the model in the first year, a bit above recent annual sales of its predecessor.

Sales of the old Equus averaged 11,860 vehicles annually over the last five years, with a 2005 peak of 14,836. Meanwhile, 1,344 S-Class models and 810 Lexus LS 460 were sold last year. Another local rival, the Chairman W of Ssangyong Motor, is suffering a huge setback after the carmaker ended up in court receivership after a conflict with its Chinese parent company.

``The market is tough and fluctuating nowadays, but Hyundai considers the sales target fairly achievable,'' a Hyundai spokesman said. ``With the influx of imported models, the flagship sedan market is broader than before. Aggressive marketing will give the company more room for sales.''

In spite of the shrunken market, Hyundai says it's a good time to consolidate its dominance, because the luxury market is less affected by the economy than other categories, and the lease market will further help the Equus.

The current market situation supports Hyundai's expectations, as most sales by domestic and overseas rivals are expected to deteriorate throughout this year.

With Hyundai's latest Genesis excluded, the local market for high-end cars amounted to nearly 33,000 vehicles in 2008. Even if the segment shrinks by 10 to 15 percent, taking a 50 percent share of the market will see the carmaker reaching its targeted sales goal.

Also, there are few price advantages expected for import models, unless the weak won turns around soon, exports say.

``In a nutshell, it seems to be plausible for Hyundai to sell the over 13,000 Equus models this year,'' said Ahn Sang-joon, an analyst at NH Investment & Securities, adding, ``No prominent rival is seen to deter the Equus.''