Looks like Genesis plan to consolidate as a worldwide player of the premium market has the wind behind its sails. According to South Korean newspaper Digital Times, Hyundai Motor Group’s luxury brand have exported 10,000 units since they started shipping the 3rd gen G80 sedan and their first SUV, the GV80, two months ago.
Genesis plans to launch the two models in overseas markets from the end of the year while planned to introduce the refreshed G70, the new GV70 and first electric vehicles during next year, with the aim of accelerate its dominance in the global premium market.
According to the industry on the 16th, Genesis exported 4,017 units of the new G80 and 6,595 units of the GV80 during October and November. During this period, the export volume of the two models was 11,612 units, accounting for half of Genesis total exports (21,605 units) this year. It is known that most of the two models were exported to the US market.
The new G80 and GV80 were initially planned to be introduced to the US market in the first half of this year, but the launch plan continued to be delayed due to the spread of Corona 19. Genesis’ sales volume in the US until last month was 12,393 units, down 26.7% from the same period last year, suffering the aftermath of the absence of new cars. In the case of the GV80, as of mid last month, only pre-contracts exceeded 20,000 units.
Genesis also launched the GV80 in Australia, Russia, Canada, and the Middle East from last October to start targeting the global market. The North American market will be the main market for Genesis. A Genesis official said, “GV80 is showing a very good response in the US market,” and “GV70 is planned to be introduced in the global market sequentially in accordance with the market situation, so we plan to start marketing accordingly.”
Genesis’ global strategy is expected to accelerate further next year. First, Genesis is expected to enter the Chinese market next year, and earlier last month announced its plans to enter the Chinese market at the China International Import Fair (CIIE) held in Shanghai, China.
In addition, the sports sedan G70 was officially launched in October, and the GV70, which is brands’ second SUV after the GV80, was officially launched earlier this month. Genesis plans to export these SUVs in the first and second half of next year according to local conditions. In the case of GV70, it is planning to enter the United States, Europe, and China following South Korea.
We’ve also seen photos of 2021 Genesis G80 and GV80 prototype models sitting at Hyundai Motor America facilities collecting dust, giving more evidence that the arrival of these cars has been delayed. This includes a matte gray GV80 and matte gray G80. (Photo credit: Eddie Quezada)