Vehicle evolution from comfort to driving fun
Hyundai Motor Co.’s premium brand Genesis, once derided as a Lexus copycat, is emerging as a breadwinner for the top South Korean automaker and a model coveted by car enthusiasts who want their cars to be both high-performance and luxury.
In 2015, the Genesis started as a “chairman’s car” with various convenient features in the back seat, replacing Hyundai’s top-end luxury model, the Equus.
Genesis cars have since evolved into Hyundai’s high-end, standalone brand that makes driving fun.
Launched as a separate brand in December 2015, the Genesis turned into a four-wheel-drive vehicle with 19-inch wheels with its design focus on front seats rather than rear seats to give the driver more fun to drive.
In 2020, Hyundai unveiled the Genesis brand’s first sport utility models – the GV70 and GV80 – to ride on the growing popularity of SUVs.
When the GV80 was launched, it instantly became the car with the longest wait to receive among Hyundai vehicles upon placing a buy order – over 30 months.
In 2021, the premium brand’s SUV models sold 67,000 units, more than the Genesis sedans such as the GV70, GV80 and GV90, which sold a combined 65,000 units.
GV60 MAGMA CONCEPT
Hyundai said the company aims to enhance Genesis cars’ performance functions further.
Last month, Hyundai showcased the Genesis GV60 Magma Concept, a high-performance version of its electric crossover, and the Neolun Concept, the Genesis brand’s first full-size electric SUV at the New York International Auto Show.
Hyundai’s answer to the Mercedes-Benz AMG lineup and the BMW M models, the Magma is “not just about the type of cars on speed tracks or quickly accelerating to a hundred (kilometers per hour) from zero, but it combines luxury and high performance,” said Hyundai Chief Executive Chang Jae-hoon.
Hyundai plans to launch the GV60 Magma next year.
STRONGER SALES IN OVERSEAS MARKETS
With its evolution from a mere comfortable luxury car to a premium and high-performance vehicle, the Genesis appeals to consumers worldwide.
in 2020, Genesis cars’ sales outside Korea accounted for 18% of the premium brand’s entire sales.
The proportion has steadily increased to 31% in 2021, 37% in 2022 and 44% in 2023.
“We expect Genesis cars’ overseas sales proportion to be 47% this year and over 50% next year, surpassing domestic sales,” said Song Min-kyu, vice president and chief of Hyundai’s Genesis business.
Genesis SUV models are particularly popular among US consumers.
Last year, the brand’s SUV versions sold 49,000 units in the US, accounting for over 70% of its total sales there.
To add to the fun of driving, Hyundai used larger 22-inch wheels for the GV80 in 2021.
The automaker also began to receive custom-tailored orders, allowing Genesis buyers to decide on the engine, drivetrain, wheels and tires of their choice.
A CAR THAT SAVED TIGER WOODS’ LIFE
The Genesis left a strong impact on the minds of Americans when golfer Tiger Woods escaped from a car accident with minor injuries while driving his GV80 crossover in February 2021.
He was driving at about 140 km per hour – beyond the speed limit of 45 miles or 72 km per hour – on a mountain road in Rancho Palos Verdes, California, when his car rolled down a mountainside and he was rescued safely, only suffering a broken leg.
US sales of Genesis cars surged to 20,316 units that year from 1,517 units in 2020.
“The Genesis needs to enhance its presence in emerging markets, including India and other Asian countries as well as Europe, to join the top ranks in the premium segment,” said an industry analyst.
Write to Jae-Fu Kim at hu@hankyung.com
In-Soo Nam edited this article.
