The Genesis G70, known for its outstanding driving performance could be facing the end of its production line. As of the 23rd of this month, Hyundai Motor will halt production on the Genesis line at its Ulsan factory, primarily to make way for additional production of the large SUV, Hyundai Palisade. Despite initial plans for a successor to the G70, it appears that Hyundai has reconsidered its strategy, opting for facelifts and updates, similar to the Sonata N Line, to sustain the model’s appeal.
The Shift in Strategy
While Hyundai initially contemplated developing a successor to the G70, internally known as RN2, it seems that these plans have been withdrawn. However, instead of a complete overhaul, they are expected to pursue the strategy of refreshing the model, much like the Sonata N Line, to capture the attention of potential buyers. This shift in strategy might be influenced by the introduction of high-performance electric vehicles like the IONIQ 5 N, alongside concerns about potential interference with the G80 if the G70 underwent a full redesign.
Sales Figures
In the period from January to November this year, the Genesis G70 managed to sell 4,044 units in South Korea, which is a 23% decrease compared to the same period last year. In contrast, the Palisade sold 39,027 units during the same timeframe, experiencing a 14% decline in sales year-on-year.
Production Differences
Interestingly, the production line responsible at Ulsan for manufacturing the Genesis G70 did not have any overtime shifts in December, unlike other lines that also produce G90 and G80 models. On the other hand, the Palisade production line carried out five overtime shifts in December. This highlights the enduring demand for the Palisade, which has consistently been a core model with strong sales performance.
Diesel Engines Discontinued
Previously, Hyundai had discontinued the diesel engine versions of the Genesis G70 and G80, aligning with the trend towards full electrification in the Genesis brand.
Future Prospects
An industry insider commented on the situation, stating, “As Genesis aims to become a fully electrified brand, the timeline for a full redesign of the G70 has become uncertain.” They further added, “After discontinuation, the focus is likely to shift towards electric models,” suggesting that the brand’s new electric vehicles could potentially inherit the G70’s legacy and brand name in the future.
Conclusion
The discontinuation of the Genesis G70 production line marks the end of an era for this iconic performance sedan. As the automotive industry pivots towards electrification, it will be intriguing to see how Genesis adapts its strategy to stay competitive in the ever-evolving market. The G70’s legacy may continue in the form of electrified models, as the brand paves its way into a sustainable and electrifying future.
