Genesis is quietly outpacing luxury rivals as EV availability expands

Genesis is making a name for itself in the US luxury market with a bold style and high-quality design. The luxury Genesis brand is outpacing rivals, closing in on Porsche and Land Rover in sales as its all-electric models expand into new states.

After launching in the US in late 2016, Hyundai’s luxury division, Genesis, is making its presence known in a big way.

After overtaking Nissan’s Infiniti luxury brand in 2022, Genesis is aiming for more. Genesis sales have grown from less than 7,000 in 2016 to over 69,000 last year, according to data from CNBC. The brand’s closest rivals include Porsche (75,415), Land Rover (71,727), Lincoln (81,818), and Volvo (128,350).

Genesis believes the momentum will continue with double-digit sales growth annually over the next few years.

A big reason for the optimism is Genesis’ electric vehicles. Genesis sells three electric vehicles in the US: the GV60, Electrified GV70, SUV, and Electrified G80 sedan.

According to Cox Automotive data, Genesis sold 6,403 EVs in the US in 2023, up 283% from 2022 and outpacing rivals Lexus and Lucid.

In March, Genesis revealed the stunning Neolun concept, previewing its first full-size luxury electric SUV. It will serve as the brand’s tech beacon, featuring “innovation that exceeds conventional standards.”

Genesis expands EV availability to outpace luxury rivals

Genesis also revealed the GV60 Magma, the first vehicle for its new high-performance brand. The sportier Magma brand is designed to spread awareness and boost sales.

Each of Genesis vehicles will get a performance Magma upgrade as it looks to grow the brand. Genesis Magma will rival Mercedes-AMG, which previewed its first high-performance EV earlier this year.

Meanwhile, Genesis announced Tuesday that its electric models are now available in 37 US states. That’s up from 33 last October, with the GV60, Electrified GV70, and Electrified G80 available in Alabama, Kansas, Oregon, and Rhode Island. Genesis EVs are now available in:

• Alabama
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Florida
• Georgia
• Hawaii
• Illinois
• Indiana
• Louisiana
• Maryland
• Massachusetts
• Kansas
• Kentucky
• Michigan
• Minnesota
• Missouri
• Nebraska
• Nevada
• New Hampshire
• Ohio
• Oklahoma
• Oregon
• New Jersey
• New York
• North Carolina
• Pennsylvania
• Rhode Island
• South Carolina
• Tennessee
• Texas
• Utah
• Virginia
• Washington
• and Wisconsin

Genesis Motor North America COO Claudia Marquez said, “This latest phase of growth allows for even more customers to discover our award-winning EV lineup.”