Hyundai’s luxury brand Genesis set to surpass 1 mn units sold

Hyundai Motor co.’s Genesis G80. [Courtesy of Hyundai Motor]

Hyundai Motor co.’s prestigious car marque, Genesis, is on the brink of accomplishing a remarkable feat this month: surpassing the milestone of 1 million units in cumulative sales. This achievement is particularly significant as it arrives just 7 years and 10 months after the brand’s inception.

Genesis adeptly tapped into the burgeoning demand for luxury automobiles in South Korea, leveraging its captivating designs and unwavering commitment to quality. Beyond domestic success, the brand made a significant mark in the U.S., the world’s largest luxury car market, with overseas sales constituting over 30 percent of its accomplishments. With Hyundai Motor intensifying its commitment to electrification, the prominence of Genesis is poised to ascend even higher in the years ahead.

According to Hyundai Motor on Sunday, Genesis has sold a total of 983,716 units from its brand launch in November 2015 to July of this year. Of these, 682,226 units were sold in South Korea, while 301,490 units were sold overseas. Considering that Genesis has been selling an average of 20,000 units per month, the achievement of surpassing the 1 million mark is assured this month.

Distinct from Hyundai, Genesis utilizes its own emblem and is on the cusp of surpassing the 1 million mark just 7 years and 10 months after the release of its first car, the G90. Prior to this, Genesis crossed the 900,000-unit mark in cumulative sales in March.

In its debut year of 2015, Genesis sold 530 units. It achieved cumulative sales of 300,000 units in January 2020 and reached the 500,000-unit mark in May 2021. Surpassing the 500,000-unit mark was accomplished within just 5 and a half years since the brand’s launch.

Market watchers assert that with the achievement of 1 million units, Genesis has firmly established itself as a premium car brand. Launched in November 2015, Genesis emerged as an independent brand challenging the likes of BMW, Mercedes-Benz, Audi, and Lexus, which has dominated the luxury car market in Korea.

By focusing on design, quality, and after-sales service (AS) as a luxury car, the Genesis brand quickly captured consumers in the domestic luxury car market, which had been focused on imported models. Another successful strategy was to diversify options and widen the price range, broadening the consumer base from young to middle-aged and older.