Published on May 13th, 2021 | by Subhash Nair0
Genesis Crosses The 500,000 Mark
Korean luxury marque Genesis has only been around since 2015, but has already sold 500,000 units.
Not too long ago, Genesis was just the name of Hyundai’s most luxurious vehicle. But in November 2015, the company made the bold move of starting an all-new marque to a range of fancy cars using that same name. In less than 6 years, the company reports it has sold its 500,000th unit globally.
Its first year of sales in 2016 saw the brand sell 65,586 units globally. This grew to an average of 80,000 units per year between 2017 and 2019. In 2020, despite the pandemic, the brand reached 128,365 units. This was mostly thanks to the launch of its first SUV, the GV80.
We actually had a chance to be up close and personal with the GV80 in Malaysia.
Here’s the press release with more.
The Genesis brand surpassed the milestone of 500,000-unit global cumulative sales.
On May 12, Genesis announced that it recorded a total of 500,191 sales in the global market with 378,999-unit sales in Korea and 121,192-unit sales outside Korea as of May 9.
This is Genesis’ milestone just in five and a half years since its launch as Korea’s first luxury automotive brand in November 2015.
Genesis first introduced EQ900(G90) in November 2015, taking on the competitive global luxury car market.
Genesis sold 530 units in 2015, the first year of launch, and continued to grow, selling 65,586 units in 2016 and recording the annual average sales of over 80,000 units from 2017 to 2019.
In 2020, Genesis sold 128,365 units, which is up by 46% than the previous year, thanks to the the brand’s first SUV GV80 which helped to surpass the global annual sales of 100,000 units for the first time.
When it comes to the segments, Genesis sold 256,056 units of the G80, leading the brand’s quantitative growth as the best-selling model.
Along with the G80, the GV80 is also leading the brand’s growth with the annual global sales of 38,069 units last year and 18,442 units this year.
Genesis globally launched its first SUV GV80 in 2020, the second SUV GV70 in that December and the Electric model of G80 this April, further expanding the brand’s lineup and presence. The dedicated EV model will also be added in the lineup within this year.
Outside Korea, Genesis recorded the highest sales in the U.S. which is one of the competitive luxury automotive markets. Since Genesis began its sales in 2016, it recorded the cumulative sales of 97,869 units and the milestone of 100,000-unit sales is imminent.
Genesis has successfully launched in the U.S. and then in Canada, the Middle East, Russia and Australia so far while it announced to enter China and Europe, key luxury automotive markets, this year.
Genesis continued its growth spurt with its unique design philosophy ‘Athletic Elegance’
Inspired by the ‘Beauty of White Space’ concept, characteristic of the traditional South Korean architectural philosophy, Genesis furbished the cabin space with spaciousness and state-of-the-art technology enhancing the car’s dignity.
With its distinctive design identity in mind, Genesis premiered five concept cars including the Genesis X revealed this March. This is not only to showcase the brand’s vision embedded in the design and future technology of the concepts, but also to raise the level of customer expectation and ultimately leading to successful launching of new models.