Genesis this luxury division of the South Korean manufacturer Hyundai, has only existed as an independent manufacturer since 2015. However, despite its young age, it has been able to position itself where Japanese luxury brands have never managed to position themselves. place, or to become a serious competitor to German luxury manufacturers, Audi, BMW and Mercedes-Benz, in particular.
You only need to speak with a sales representative at a Genesis dealership to learn that, yes, many owners of German products are abandoning their vehicles to upgrade to a South Korean one. The reason? An all-in-one pricing principle, an unparalleled customer experience and clearly thoughtful after-sales support.
All this seems to be paying off for Genesis, because barely 8 years after separating from Hyundai, the manufacturer announced last August that it had just surpassed the milestone of one million vehicles sold.
But what was the millionth model?
Normally, when a manufacturer achieves such a feat, it highlights it through a celebration or a special edition of a certain model. Not at Genesis. The manufacturer announced it subtly in a press release, without even telling us what the millionth vehicle was.
In fact, it was in August 2023 that the manufacturer would have reached a sales figure of 1,008,804 vehicles worldwide. If the American market was very marginal, with only 225,000 sold, it is South Korea, the manufacturer’s native land, which proves to be the place where Genesis sells the greatest number of vehicles. No less than 690,177 copies found buyers there. Canada is included in the approximately 84,000 models sold elsewhere in the world.
The profitability of SUVs and electric models
It is interesting to analyze the rapid evolution of this manufacturer which, barely 3 years ago, did not offer any SUV or electric models in its range. The figures clearly demonstrate how much consumers love these types of vehicles. For example, if it took 5 years before Genesis sold 500,000 vehicles worldwide, it managed to double this quantity in the space of just 2 years. The GV70 and GV80 SUVs certainly helped, as did the GV60 and GV70 Electrified electric utility vehicles.
