Genesis Q3/September 2024 sales

[YEH]

Q3
USA - 20,117 (51,938 YTD; +2.5%)
GV60 - 772 (1,998)
G70 - 3,042 (8,538)
GV70 - 8,299 (51,938)
G80 - 973 (3,103)
GV80 - 6,711 (16,802)
G90 - 320 (1,017)


September
Korea - 10,638 (102,365 YTD; +5.1%)
GV60 - 34 (446)
G70 - 202 (1,853)
GV70 - 3,343 (24,766)
G80 - 3,898 (34,880)
GV80 - 2,610 (31,420)
G90 - 551 (6,093)

Santa Fe - 5,314 (56,042)
Grandeur - 6,120 (51,964)
Palisade - 1,704 (15,026)
Ioniq 5 - 1,172 (11,286)
Ioniq 6 - 368 (3,176)

Sorento - 6,628 (67,314)
K8 - 4,724 (21,067)
Mohave - 118 (2,118)
Carnival - 4,900 (62,352)
K9 - 163 (1,743)
EV6 - 324 (7,572)
EV9 - 122 (1,600)

 

[steveinarizona]

Thanks. That would mean US sales of roughly 80K a year. Among luxury brands...that would place Genesis just above Infinity and well below Acura. It does help me to understand why some Hyundai dealers don't want to spend the money to build a Genesis dealership.

But...Genesis is on an upward trend while Infinity is circling the drain. It seems to me that the question is whether the dealers will wait out the years while the Genesis brand continues to grow. Right now, only Genesis and the Germans are offering a full range of "luxury" vehicles. The rest have essentially given up on sedans and coupes (well...Lexus is still offering the IS and ES but their sales are abysmal).

 

[YEH]

Q3
Canada - 1,833 (5,195 YTD; up 4.5%)
GV60 - 87 (211)
G70 - 191 (645
GV70 - 1,116 (3,257)
G80 - 31 (131)
GV80 - 407 (939)
G90 - 1 (12)

 

[YEH]

Thanks. That would mean US sales of roughly 80K a year. Among luxury brands...that would place Genesis just above Infinity and well below Acura. It does help me to understand why some Hyundai dealers don't want to spend the money to build a Genesis dealership.

Thing is, Genesis production/sales was initially planned for a 100 dealership count in the US, hence the slow commitment by dealership to pony up the millions to build a new standalone store.

That being said, the GV70 and GV80 are carrying the brand (at least here in NA) and sedan sales (particularly the G70) have been disappointing (G80 and G90 sales don't matter as much as domestic sales are enough to justify continued investment for now), as have sales of the GV60 (which pretty much have been a disaster).

The GV80 coupe is a niche seller and the upcoming GV90 will be even more so considering its likely hefty price tag (likely to start at around $100k), so avenues of sales growth seem pretty limited with the current/near term product lineup, especially as it seems that the G70 will be discontinued (while sales have been disappointing, it's still the 3rd best seller in the lineup).

Whoever has been in charge of Genesis product development has screwed up; predicted that both the G70 and GV60 wouldn't do well and that Genesis was making a major misstep in skipping HEVs.

They really need another (if not 2) CUV that is HEV/EREV in the more affordable price point (a $100k+ GV90 won't do anything for sales volume); as previously stated, a more rugged, boxy CUV btwn the price points of the GV70 and GV80 would really help volume.

Something more affordable than the GV70 would also help, but anything more cramped than the GV70 in the 2nd row would struggle, so would need the 2G GV70 to increase its 2nd row space before adding a CUV underneath it.