A few months ago we have talked about the Genesis G70 fate when Genesis sent a request for quotation (RFQ) to major automotive partners and there was no mention to G70. A few days ago, on behalf of Hyundai/Genesis North American Dealer Meeting, it was announced that the G70 will be axed.
Focus on EREV & EV
This detailed plans showed Genesis intention to apply the next-generation EV platform, known as ‘eM‘, to all its models including the GV90. The estimated annual production volumes specified in the RFQ are approximately 21,000 units for the GV90, 68,000 units for the GV80, 40,000 units for the GV70, and 51,000 units for the G80.
Hyundai aims to produce and sell a total of around 1,132,000 units of these four premium Genesis models. This four models will incorpore the next-generation EV platform, from December 2025 to 2033. At the 2024 CEO Investor Day they announced all Genesis models will have a hybrid powertrain despite the all-electric models. Now and thanks to our sources we have known the G70 won’t have the chance of having a hybrid engine and will be discontinued after the cycle of the facelift model ends.
What happened to the G70?
While Hyundai initially contemplated developing a successor to the G70, internally known as RN2, these plans have been withdrawn. The latest G70, introduced in May 2023, is a facelift version with no significant changes exteriorly and interiorly.
But Genesis announced last year that all Genesis vehicles will be purely electric starting from 2025. “In the early stages of development, the next G70 was about to get much bigger than the current model,” the source said. “But in that case, it will not be notably different from G80, and that’s why Hyundai decided to drop the project.”
Sales of the Genesis G70 have sharply declined amid the increasing demand for more spacious sedans and SUVs. First introduced in 2017, the G70 got off to a running start with a total of 4,345 units sold in only four months of introduction.
Sales grew to 14,417 in 2018 and 16,975 in 2019 but started to slide in 2020, with only 7,910 G70s sold, down 54.4 percent on year. Sales fell to 7,429 in 2021 and 6,087 in 2022. The situation continues to worsen, with a total of 3,727 G70s sold this year, down 26.3 percent which is clearly insufficient. Its brother from another mother, the KIA Stinger, was already cancelled.
What to expect?
Genesis is not the only luxury brand that after several years, started to cancel its entry-level models. Mercedes for example will kill the A-Class, A-Class sedan and B-Class, while Audi is killing A3 hatchback and sedan and the smaller A1, all in favor of SUVs. The Audi Q3 and Mercedes GLB will be the entry level model for both German brands.
The Genesis G70 is currently in the middle of nowhere so that is the reason it won’t get a new generation or will add a hybrid powertrain into the current model. As a sedan is too small and offers a compromised interior space while if it grew, it would be cannibalised by its bigger brother and Genesis’ best selling car, the G80.
What do you think about Genesis G70’s fate?
