All-New Genesis G80 and Genesis GV80 SUV US Market Arrival Statement

[Sal Collaziano]

Jul 23, 2020 - Genesis Motor America will have two very important product launches in 2020; its first-ever luxury flagship SUV – the 2021 Genesis GV80 and the all-new 2021 Genesis G80 mid-size luxury sedan. The announcements of these two new vehicles have been well received by potential customers evidenced by the combined total of more than 14,500 reservations received.

Earlier this year, we announced that sales for both vehicles would commence in the US Market in the summer of 2020.
Unfortunately, due to COVID-19 related delays in the U.S, we need to adjust our communication of the timing for their highly-anticipated arrival in the US Market to the fall of 2020.

The all-new G80 and GV80 have received tremendous media accolades and an overall exceptional reception thus far. Recently, both vehicles were named contenders for the North American Car & Utility of the Year awards respectively.

 

[Ernie3647]

Thanks Sal there's a lot of anxiety on the site over this launch.

 

[MyCorvette]

Obviously, this and the next years are really bad timing to launch new products, especially for expensive consumer durables.

If I was management of HMA/GMA, the most immediate target and action items is to think about how to keep the company alive in the next 24 months, not investing in product that brings in less amount of profit.

The Fed cannot print money to artificially boost the economic forever, once the stimulus plan dries up but the covid still does not go away, terrible things will happen in US.

 

[YEH]

^ Models like the GV80 and G80 will bring in more profit per sale, and Hyundai's retail sales in the US have actually increased despite the pandemic.

 

[MyCorvette]

What matters is not the per unit profit margin, but total sales quantity X margin.

If the covid did not go away for 1 more year, and the Fed runs out of stimulus plan cash, situation will go south rapidly, significant social unrest will come for sure.

 

[YEH]

^ And yet with Lexus selling far more than Genesis world wide and Toyota having a fleet of high margin BoF pick-ups and SUVs, it was Hyundai that finished last Q with a good bit higher profit (Toyota's situation in China is also much better).

So tell me, what was the differentiator that allowed Hyundai to finish the Q with a good bit more profit than Toyota and not with a huge loss like Honda?

 

[SpeedwayBlue]

I received this email today:
On behalf of the Genesis family, we want to thank you for your interest in the new 2021 Genesis G80. 2020 marks a remarkable year for the Genesis family as we usher in a new age of luxury and we couldn’t do it without you.

When we launched the all new G80 earlier this year, we certainly were not anticipating the global events that have transpired since their announcement. COVID-19 has impacted all of our lives, and has likewise made the arrival of both G80 and GV80 more fluid.

While this longer wait was not planned, I am extremely excited to let you know that vehicles will be on US soil come this autumn. I cannot wait for you to experience the refined luxury and athletic elegance that defines the Genesis brand in the new G80.

Once vehicles are on shore, we’ll be reaching out regarding private events (health concerns permitting) to allow you to dive deeper into our new line up.

I’ll reach out again in a few short months to let you know when vehicles stateside. If you have any questions, please feel free to reach out to your Genesis retailer or engage with us on your social media channel of choice.

Respectfully Yours,
Mark Del Rosso
President and Chief Executive Officer
Genesis Motor North America

 

[Husky]

Why did they have to give it the ugliest steering wheel ever?? It looks like some grotesque face starting back at you. The strangest wheel design I've ever seen.