Genesis is not the only carmaker that is suffering a drop in their sales, despite the G80 is brand’s all time best selling vehicle. During last weekend at Hyundai Motor Group’s Ulsan plant, there were only one line that did not continued working over the weekend. It’s about the 51-line inside Ulsan 5th plant, which produces Genesis sedans such as G70, G80, and G90.
The 2nd factory, which produces Genesis sports utility vehicles (SUVs) such as GV70 and GV80, worked overtime. Also Plant 1 (which made Kona, IONIQ 5, etc.), Plant 3 (Avante, etc.), Plant 4 (Palisade, Santa Fe.), and Plant 5, 52 line (Tucson, etc.) also increased production by overtime. Line 51, on the other hand, has no overtime throughout the month of September. After the Chuseok holiday, to be held during the first week on October, the company decided close that line until the 9th of October.
Another cause pointed by Hyundai was the high rate interested, “The rising interest rates and the economic downturn have worsened the high-end sedan sales environment,” Hyundai said in internal data as to the reason for the absence of a 51-line overtime.
According to Hyundai Motor’s sales performance data, the Genesis’ sedans sold a total of 45,535 units from January to August this year. Compared to the same period last year (55,900 units), sales decreased by about 10%. Genesis SUVs, the GV70 and GV80 sold a total of 40,502 units from January to August this year, up 24.6% from the previous year (30,501). In total, Genesis said sales only increased by 1.8% year-on-year due to the drop in sales of the sedans despite the expansion of SUVs.
Genesis G80 Facelift Spied Testing (by ShortsCar)
Returning to Genesis sedans, the G80 is the only model that keeps the pace, as sales rose 3,6%. 33,296 units of the G80 were sold from January to August this year. The G70, a model that could not have a successor, sold 3,115 units, down 17.6% in the same period while the G90 sales drop 37.8%, to 9,124 units. The G70 did not see a rise in sales even though it launched a facelift (partial change) this year. The G90 also added a mild hybrid (MHEV) engine to its base powertrain, which was only on the long-wheelbase model, in this year but sales continue to drop.
The G80 facelift, which is scheduled to be released in South Korea before the end of this year, has the task of rebounding the downturn of the Genesis sedan line-up. The G80 accounted for a whopping 73% of all Genesis sedan sales this year.