Genesis announced that it has surpassed one million cumulative vehicle sales, a landmark achievement for the brand. The brand announced that it had sold 1,008,804 vehicles in the global market, including 690,177 in Korea and 318,627 overseas as of the end of August 2023.
Genesis reached this milestone in less than eight years since its global debut in November 2015, and a mere two years and three months after surpassing the half-million mark in May 2021. “Genesis has been taking audacious steps to create original experiences for customers since launch, achieving remarkable growth along the way. Our brand will continue to build distinguished luxury experiences that have never been seen before,” said Mike Song, global head of Genesis.
Rapid Global Sales Growth Driven by Competitive G80, GV80, and GV70 Models
Since launching in 2015, Genesis has significantly boosted its global sales through the introduction of award-winning competitive models. Starting with the introduction of the flagship Genesis G90 sedan, Genesis has successively launched the G70 and G80 sedan lines, in addition to GV60, GV70, and GV80 SUVs. By 2020, the brand reached a significant milestone, achieving its first-ever annual global sales exceeding 100,000 vehicles, with a total of 132,450 sold.
Selling 201,415 vehicles in 2021 and 215,128 in 2022, Genesis has demonstrated impressive growth, with a record 154,035 vehicles sold as of August 2023. Worldwide, the Genesis G80 is the best-selling model in the brand’s vehicle lineup since its introduction in 2016, with 390,738 units sold across the global market including Electrified G80 models. Genesis’ first SUV, GV80, and second SUV, GV70, have recorded cumulative sales of 173,882 and 160,965 vehicles, respectively, across the globe.
In the United States, the brand has achieved over 225,000 cumulative sales as of August 2023. Genesis set a new annual record in 2022, achieving 56,410 vehicles sold in the calendar year. In 2023, the brand has already surpassed 44,017 annual U.S. sales as of August. In Canada, the brand has achieved tremendous success, nearly reaching 20,000 cumulative sales as of August 2023.
Pioneering the Global Market with a Competitive Lineup and Differentiated Customer Experiences
At the core of Genesis’ remarkable success lies its unwavering commitment to delivering unique customer experiences. This includes offering a comprehensive model lineup renowned for its uncompromising attention to detail, creating original brand experience spaces, and providing meticulous customer care. Guided by its distinctive design philosophy of Athletic Elegance, Genesis has introduced models that can be characterized by their audacious designs and outstanding performance.
Since introducing its first-ever vehicle, G90, in 2015, Genesis has continually expanded its portfolio spanning sedans, SUVs, and electric vehicles. The current lineup includes ten models, comprising five sedans, two SUVs, and three electric vehicles, having expanded from four models in 2020. The brand’s strong lineup has paved the way for Genesis to enter 17 markets, including its home market of Korea, the United States, Canada, the Middle East, Australia, Europe, and China.
Genesis builds and operates an array of brand experience spaces in over 50 locations around the world, including Genesis House in New York, Genesis Lounge in Seoul, and various Genesis Studios, which are designed to deliver the unparalleled distinction that sets the brand apart by offering hospitality rooted in the brand’s distinctly Korean identity.
In November 2021, the luxury brand unveiled its first global brand cultural space, Genesis House, in New York City’s Meatpacking District. This unique space invites visitors to engage with displayed vehicles and immerse themselves in a variety of cultural experiences that reinterpret Korean aesthetics and traditional values through a modern lens.
Genesis has also garnered a series of accolades from prestigious global entities to cement its reputation as a leading brand. Including a variety of MotorTrend Car and SUV of the Year, Car and Driver 10Best, and North American Car of the Year awards.
Electrification, Quality Product Lineup, and Brand Experience Spaces for Further Growth
Genesis continues its efforts to be a leading brand in the EV era in line with the electrification vision it announced in 2021. From 2025, every new model introduced will be purely electric, backed by plans to diversify its manufacturing plants for electric cars to meet the expanding global demand for electrification. To actively compete in the United States, where EV competition is fierce, the brand has begun to localize production of its popular GV70 and Electrified GV70 models, which are assembled in Alabama.
For the mid-long term, Genesis plans to review more solutions for effective electric vehicle production in response to global demand, considering factors such as global strategies, regional government policies, and component infrastructure. Along with its transition to a full EV lineup, the brand elaborates on plans for the goal of achieving carbon neutrality by striving for innovation in all value chains of the brand, including raw materials, parts, and production processes.
Genesis plans to add new vehicle models with best-in-class quality to its existing lineup as well. The new GV80 Coupe and updated GV80 will be introduced later this year, while a new model in an entirely new segment will also be added soon. Genesis also aims to expand its dedicated brand experience spaces globally and provide original experiences for more customers to enjoy, based on its distinct approach to hospitality for “son-nim,” or honored guests.