Genesis, Hyundai Motor Co.’s luxury vehicle division, recently marked a key achievement, exceeding one million global sales of vehicles. This triumph reflects the cumulative sales until the end of August 2023, with 690,177 units sold in Korea and 318,627 units sold overseas.
This notable accomplishment was realized in under eight years since its global debut in November 2015, and just over two years after exceeding the half-million mark in May 2021. Mike Song, Global Head of Genesis, shared his thoughts on this achievement, stating, “Genesis has been taking audacious steps to create original experiences and values for customers since launching, achieving remarkable growth along the way. Our brand will continue to build distinguished luxury experiences that have never been seen before.”
Accelerated Growth Powered by Competitive Models
The accelerated global sales growth of Genesis can be attributed to the introduction of award-winning, competitive models such as the G80, GV80, and GV70. The journey began with the Genesis G90 in 2015, followed by the successive launches of the G70, G80, GV70, and GV80, leading to the brand’s first-ever annual global sales exceeding 100,000 units in 2020. Sales continued to surge in 2021 and 2022, with 201,415 and 215,128 units sold, respectively, showcasing impressive growth with a record 154,035 units sold until the end of August this year.
The G80 emerged as the best-selling model in the brand’s vehicle lineup since its introduction in 2016, with 390,738 units sold globally, encompassing Electrified G80 models. Additionally, the GV80 and GV70, Genesis’ inaugural SUV and mid-sized luxury SUV, recorded cumulative sales of 173,882 and 160,965 units, respectively, worldwide.
Distinctive Customer Experiences and Global Acclaim
A crucial component of Genesis’ success lies in its dedication to delivering unparalleled customer experiences. This commitment encompasses a comprehensive model lineup renowned for its best-in-class quality, original brand experience spaces, and meticulous customer care. The brand has introduced models characterized by bold designs and exceptional performance, underpinned by its design philosophy of ‘Athletic Elegance.’
Genesis has received a series of accolades from esteemed global entities, reinforcing its status as a trustworthy luxury brand. It has secured various awards in North America and Europe, including MotorTrend Car and SUV of the Year, Car and Driver 10Best, North American Car of the Year, German Premium Car of the Year 2023, Swiss Car of the Year 2023, and the UK’s What Car? Awards’ Best Electric SUV 2023 with the GV60.
Electrification Vision and Anticipated Growth
Aligning with its electrification vision unveiled in 2021, Genesis plans for every new model introduced from 2025 onwards to be exclusively electric. The brand is diversifying its manufacturing plants for electric cars to accommodate the burgeoning global demand. Electric vehicles built on a new platform will be produced at the Hyundai Motor Group Metaplant America (HMGMA) and the Hyundai Motor Manufacturing Alabama (HMMA) plant, where the electrified GV70 is presently produced.
Genesis is also committed to achieving carbon neutrality by innovating all value chains of the brand, encompassing raw materials, parts, and production processes. The brand has plans to augment its existing lineup with best-in-class quality vehicle models, including the upcoming GV80 Coupe and updated GV80 launching this year, and a new model in an entirely new segment in the near future.
Additionally, Genesis aims to broaden its dedicated brand experience spaces worldwide and provide original experiences for more customers, rooted in its unique approach to hospitality for ‘Son-nim,’ or honored guests.
The achievement of one million global vehicle sales marks a pivotal milestone in Genesis’ journey to establish itself as a leading luxury automotive brand. With a steadfast commitment to electrification, innovation, and delivering unique customer experiences, Genesis is well-positioned for sustained growth and success in the global market.
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