In an interview at the Sydney Motor Show, Raphael Bretecher, Hyundai's European design boss said that the company needs an iconic car like the Audi TT.

"As a car designer I would like to make the icon, that is obvious," he said. "But this company looks at what is most profitable and that is what must be delivered first.

"I think the time has come for us to do it and we have the potential to do it, but I don’t know if it is a priority for our bosses in Korea. But ask the designers to build an icon they will do it, or just love to try and do it."

The new model would be vital in boosting Hyundai’s image from value buy to "quality" in a way its improving breed of mainstream cars like the Santa Fe and I30 could not achieve.