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Although ambitious to enter the North American market, Genesis, faced with a terrible failure, tries again to jump. Genesis plans to introduce the GV80 and the new G80, which were first launched in the domestic market earlier this year and have record sales in the North American market.
Hyundai Motor Company has enthusiastically appealed to the unveiling of the new Genesis GV80 car that Genesis has made every effort to gain recognition in the global market. Since then, it has started receiving pre-contracts for the GV80 in the US since last January, and recently, the pre-contract volume surpassed 20,000 units and there was news that future sales are expected. Today, AutoPost Issue Plus takes another step in the history of Genesis, which aims to rebound in the North American market.
Written Joonyoung Park Publisher
The sales volume of Genesis North America is
On a disastrous level
Before I started this article, I reported the total sales of Genesis in North America in October. In the domestic market, it was Genesis, which was active by far outsmarting other imported premium brands, but in the North American market it was confirmed that it didn’t work at all.
Genesis currently sells the G70, old G80 and G90 car generations in the North American market. Since the G80 is an older model, its marketability is estimated to be lower in reality, and the G90 is also a model that has been revamped based on the EQ900 made in 2015, so it’s hard to compete directly with other flagship sedans starting from 2020.
With relatively little training
With insufficient marketability
Faced with bad results
The G70, launched in 2017, is not only a relatively new model, it also boasted the highest volume of sales in the Genesis range, thanks to its favorable rating by targeting the end plate king of the rival D-segment sedan, the BMW Series. 3. Indeed, it is no exaggeration to say that the G70 was the driving force behind Genesis’ low sales in the North American market.
The traps of Genesis’ North American market include “lack of training” and “lack of product quality”. If you look at other premium brands that are active in the North American market, they all have a variety of lineups. In most cases, both sedans and SUVs have a full range ranging from midsize to large, but the Genesis has never existed until now and sedans also offer limited types and, at the same time, most of them did not receive good reviews.
The new Genesis was launched this year
It is an important model which means re-challenge.
To break this bond, Genesis has decided to launch the first GV80 SUV and the new G80 this year. It changed to a whole new style with Genesis’ new design language and improved its weight and athletic performance to compete with imported cars and greatly increased its marketability with various advanced equipment.
Fortunately, the new Genesis design has received good reviews on the domestic market, and this year it is seeing record sales volume thanks to the news that its marketability has also improved dramatically. Naturally, various defects and quality problems occurred in between, and although they are still ongoing.
Last January, in the North American market
GV80 pre-contract started
It is true that the Genesis GV80 and the new G80, which were released this year, were so good at internal evaluation and consumer reaction that they were expected to work in the North American market as well. Genesis has signed a pre-contract for the GV80 in the North American market since January, and it is reported that it has recently passed the 20,000 cumulative contracts.
When the news was delivered that the GV80 had surpassed 20,000 units in the North American market through a pre-contract alone, the national media simultaneously released various articles saying, “Genesis has finally started to be praised in the North American market. Industry too. automaker is paying attention to the fact that Genesis will be able to wash away the pains.
Whether it’s a real jackpot or not
I have to look a little longer
But if you look closely, there are also some traps here. You can see this from the results last time looking at Genesis North America sales, but each time in the national media it was reported as “sales volume increased by 00% in Genesis North America”, “the number of sales increased by 00% over the previous year “and” the all-time record sales volume “. However, most of the absolute sales figures were missing and there was no data on how much other manufacturers were selling compared to Genesis. After verifying this, Genesis was the last in sales among the premium brands.
Again, the GV80 was contracted for 20,000 units as a pre-contract only, and items that were a large number were paid out considering that Genesis’ total sales in the North American market last year were 2,233 units. At the same time, there were also articles such as: “We are receiving favorable reviews from the local media for various factors such as power performance, quietness, ride comfort and practicality specs.”
It is great news that the new cars to be launched by Genesis have been well received by local journalists in the North American market. This is because it is a good assessment that can wipe out old desires. However, it is necessary to observe the future sales trend a little more if the Genesis GV80 has been contracted with more than 20,000 units in advance.
First of all, the pre-contract is around 11 months. Genesis reported having pre-contracted in the North American market immediately following the launch of the GV80 in Korea and reported exceeding 10,000 units by May and 20,000 units were the recently filled pre-contracts. It is said to have reached 20,000 units by receiving an 11-month upfront contract.
17 million units sold every year
Bronco, North American market in one month
It exceeded 165,000 units.
The United States is a country that sells 17 million cars annually and 2.7 million midsize SUVs are sold annually. The size of the number of units sold is said to be different. It is a question to be carefully considered whether it is sufficient to use the keyword “jackpot” which has obtained 20,000 units through an 11-month upfront contract.
To say that the pre-contract has hit the jackpot in the North American market, it has to be on the Ford Bronco, which has been successful in the past. Ford’s new Bronco reached 165,000 units in a pre-contract month.
Sales of rival models
If you look at it, there is still a long way to go.
Of course, it can be a large number to claim that Genesis, which has annual sales of 20,000 units, has surpassed 20,000 units through pre-contracts. However, this is only a pre-contract and it is unknown how many sales it will actually lead to. Unlike Korea, the North American market operates in a facility where a manufacturer sells a car to each dealership and then the dealership sells it to consumers. Therefore, a dealer can sell cars from different manufacturers.
If the GV80 hits a record high enough to reverse Genesis’ sales volume after the official sale has started, it has succeeded in a flash, and if the sales volume drops after the initial box office flashes without fail, it will inevitably become again a good apricot dog. to be.
Looking at the 2019 annual sales of the opponents the GV80 will compete with, the BMW X5 sold 54,595 units, the Mercedes GLE 49,980 units and the Infiniti QX60 43,162 units sold. Even though all GV80 pre-contracts are sold, 20,000 units have to be sold continuously every year so it can barely reach half of these sales.
Looking at the brand as a whole, there is still a long way to go. Last year Mercedes-Benz sold 350,000 units in the North American market, BMW 320,000 units and the Japanese brand Lexus sold 290,000 units. Even though the Genesis GV80 miraculously sells 50,000 units, there is still a long way to go. It was Auto Post Issue Plus.
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