Genesis, Hyundai Motor’s luxury brand, will go head-to-head with Mercedes-Benz, BMW, Audi and a whole host of competitive premium brands in Europe this summer, beginning with two models, including the G80 mid-size four-door sedan and the GV80 two-row mid-size crossover SUV.
Genesis Motor sold its first car in 2015, but it has now expanded beyond South Korea, the United States and Canada, into China, Russia, the Middle East, and Australia. Once it launches in Europe, the process delayed due to the global health crisis, Genesis plans to grow its brand into additional Asian markets.
An upcoming plug-in electric version of the G80 made the mid-range sedan an important choice for the European market.
“The Electrified G80 will be the first all-electric Genesis to arrive in Europe,” states a Genesis Motor Europe press release. “A further two battery electric cars will follow, providing European customers with a choice of three Genesis zero-emission cars within the first year.”
Genesis has received mostly positive reviews as well as good luxury market acceptance here in Canada, and has arguably achieved greater prestige perception than some Japanese rivals that have struggled to increase their stakes in the luxury sector since the late ‘80s.
As an example, when Genesis arrived in 2015 its two-car lineup included a full-size luxury sedan dubbed G90, complete with formidable V6 and V8 engines. By comparison, Honda-owned Acura, as well as Nissan-controlled Infiniti, discontinued their full-size luxury sedans after lacklustre sales. The latter marque’s full-size Q45 was actually dropped back in 2006, after which it said goodbye to its mid-size Q70 and extended-wheelbase Q70L in 2019. Acura’s flagship sedan lasted longer, the RLX being discontinued just last year.
The latter brands do fairly well in the compact luxury sedan segment with their TLX (Acura) and Q50 (Infiniti), as does Genesis with its newer G70, the third model added to the lineup. The three cars go up against Lexus’ IS in this class, as well as longstanding favourites, the BMW 3 Series, Mercedes-Benz C-Class, and Audi A4. The latter brands offer sport coupes and convertibles in this category too, and to that end Genesis promises a two-door version of the G70 soon.
In fact, earlier this year the South Korean luxury brand wowed online audiences with the gorgeous X Concept two-door prototype. According to reports, the names GT60, GT70, GT80, and GT90 were trademarked in 2017, so one of these will likely be found on the rear deck lid of the brand’s upcoming coupe, a car we expect will provide good competition to the BMW 4 Series, Mercedes C-Class coupe, Audi A5, Infiniti Q60, Lexus RC, etcetera. Four-door coupes and convertibles will likely be part of Genesis’ GT line too, in all shapes and sizes.
More important to Genesis’ bottom line, the previously noted GV70 compact crossover SUV will soon go up against the BMW X3, Mercedes-Benz GLC, Audi Q5, Lexus NX, Acura’s RDX, Infiniti QX50, and the list goes on.
No one can guess how each European market will take to Hyundai’s luxury brand, but if Genesis can come close to replicating its growth in North American markets, it will be cause for celebration. Sales more than doubled during the first quarter this year when compared to January through March of 2020, whereas year-over-year Q1 deliveries in its home market of South Korea had increased by 165 percent. Genesis was only recently introduced to the Chinese market, so only time will only tell how well it does.
Genesis sales in Canada increased from 229 units in the first quarter of 2020 to 628 deliveries during the same three months of 2021, which represented growth of 174 percent year-over-year. This improved on the previous quarter’s YoY uptick of 171 percent, although Q4 sales combined for a stellar 935 units, which made for the fledgling brand’s most impressive quarter yet.
Manufacturer incentives usually increase sales, so therefore Genesis Canada is offering zero-percent factory financing and leasing rates on every model in the lineup. On average, CarCostCanada members have been saving $2,666 on the 2021 Genesis G70 and $10,000 off of 2021 G90 models (at the time of writing, member savings were not shown for the G80 and GV80).
The savings come from otherwise difficult to get dealer invoice pricing, which translates into a big advantage when negotiating on a new vehicle. Make sure to learn how the CarCostCanada system works, and remember to download the free CarCostCanada app from the Apple Store or Google Play Store, so you can have all of this critical information close at hand when you need it most.
Story credits: Trevor Hofmann
Photo credits: Genesis