GENESIS REPORTS JUNE AND HALF-YEAR 2020 SALES

[Sal Collaziano]

Genesis increases sales by 5.9% over previous month

FOUNTAIN VALLEY, Calif., July 1, 2020 – Genesis Motor America today reported sales of 1,429 units in June 2020, a 24.3 percent decrease compared with the prior year. However, Genesis enjoyed a 5.9 percent increase vs. May 2020. For the first six months of 2020, Genesis Motor America sold 7,540 units, a 24.7 percent decrease for the calendar year thus far.

June 2020 Sales:

	JUNE 2020	JUNE 2019	YTD 2020	YTD 2019	% CHANGE
Genesis Total	1,429	1,887	7,540	10,007	-24.65%
G70	897	1,193	4,392	5,715	-23.15%
G80	324	532	2,001	3,353	-40.32%
G90	208	162	1,147	939	22.15%

“Despite a steep decline in the luxury market, Genesis increased sales significantly over last month. As the market recovers, I am confident that Genesis is well-positioned to garner a lot more attention in the second half of the year, said Mark Del Rosso, President and Chief Executive Officer, Genesis Motor North America.

Last week, J.D. Power’s 2020 Initial Quality Study (IQS) ranked Genesis #1 among all premium automotive brands for the fourth consecutive year. As the #1 premium brand in the study, Genesis vehicle owners experienced 17 fewer problems per 100 vehicles than the second best luxury brand and 24 fewer problems than the average new 2020 vehicle owner that responded to the survey from JD Power.

The 2020 G70, scored at 129 PP100, was ranked the #1 Compact Premium Car for the second consecutive year. Genesis G70 owners experienced 32 fewer problems per 100 vehicles than the #2 compact premium car and 45 fewer problems per 100 vehicles than the compact premium car segment average.

“With every major accomplishment Genesis achieves as a brand; #1 Premium IQS brand for the fourth consecutive year, #1 overall brand in the J.D. Power 2020 Vehicle Dependability Study (VDS), Consumer Reports Annual Report Card Results, IIHS Top Safety Pick+ for our entire model range, all of the major third party awards our vehicles win, relatively solid and stable sales results through these trying times, and so on, Genesis is maturing into a luxury automobile brand to be reckoned with,” said Mark Del Rosso, President and Chief Executive Officer, Genesis Motor North America. “Furthermore, none of these major accomplishments are unique, one-off events. With each major award or accolade, Genesis is proving itself as the brand to watch in the automotive sector.”

 

[Backslack]

Impressive how the G90 is selling better than last year even with the pandemic.

 

[Slip_Angle]

Hope those G70 sales increase. It's bewildering to me the G70 gets SO much praise, yet doesn't sell as well as the stinger... though we don't have the Stinger sales for June yet...

 

[MyCorvette]

One of my friend working in the local Genesis dealership told me, during the last few months people from the corporate "asked" the dealership to register 2019 model year G90 leftovers in the inventory, to be used as service loaner/dealership management personal vehicle etc.

Once registered, it will be officially counted as one sale in the month sales report.

 

[Backslack]

One of my friend working in the local Genesis dealership told me, during the last few months people from the corporate "asked" the dealership to register 2019 model year G90 leftovers in the inventory, to be used as service loaner/dealership management personal vehicle etc.

Once registered, it will be officially counted as one sale in the month sales report.

Your history of fanfiction knows no bounds. Yeah, let's pretend that the new G90 isn't selling and it's all a scam by dealers to artificially inflate numbers. If that's the case, explain why they didn't do the same to the leftover 2019 G70's.

 

[MyCorvette]

Your history of fanfiction knows no bounds. Yeah, let's pretend that the new G90 isn't selling and it's all a scam by dealers to artificially inflate numbers. If that's the case, explain why they didn't do the same to the leftover 2019 G70's.

Given the same quota to "digest" unsalable red tag inventory, most dealership executives prefer to drive the G90 - for himself, it is free (company pays it), obviously everyone will pick the most expensive one. For dealership, monthly cost difference between G70 and G90 is at most ~$700, this is a very small amount of money for a car dealership.

Again, no one force you to believe anything. If you do not believe it, why do you care?

 

[DarinG90]

All I will add is that I'm a recent owner of a 2020 G90 (bought in March). Unbelievably great vehicle, even more so when price shopping its competition.

Also.. I traded in my 2013 Genesis Sedan when buying this G90. So.., I sorta know the Genesis cars a bit. That old one, incidentally, was flawless. From 2013 to March 2020 not a SINGLE problem. Not one. True... 7 years. Never saw the dealer.

They build damn good cars!

 

[Backslack]

Given the same quota to "digest" unsalable red tag inventory, most dealership executives prefer to drive the G90 - for himself, it is free (company pays it), obviously everyone will pick the most expensive one. For dealership, monthly cost difference between G70 and G90 is at most ~$700, this is a very small amount of money for a car dealership.

Wow, it took you two hours to edit in this excuse into your original post. Definitely not suspicious at all... I'm glad you put a lot of thought into it for me, just to come up with this absurd, unsupported claim.

Surely, the sales numbers increase in G90s sold this year are from liquidated stock of 2019 G90s that the dealers had to force corporate to pay for for all their managers to drive. This also apparently somehow wasn't a thing for 2017/18 G90s either, or for the G80- and yet now suddenly every manager at the few Genesis "dealerships" (that even sell G90s) decides they want to replace their existing ride with a G90, right here and now in 2020. The sales increase has nothing to do with the facelift, not even remotely...

Did you actually take time to think about this before you wrote it? Was two hours not enough?

 

[MyCorvette]

Wow, it took you two hours to edit in this excuse into your original post. Definitely not suspicious at all... I'm glad you put a lot of thought into it for me, just to come up with this absurd, unsupported claim.

Surely, the sales numbers increase in G90s sold this year are from liquidated stock of 2019 G90s that the dealers had to force corporate to pay for for all their managers to drive. This also apparently somehow wasn't a thing for 2017/18 G90s either, or for the G80- and yet now suddenly every manager at the few Genesis "dealerships" (that even sell G90s) decides they want to replace their existing ride with a G90, right here and now in 2020. The sales increase has nothing to do with the facelift, not even remotely...

Did you actually take time to think about this before you wrote it? Was two hours not enough?

Obviously your subconscious knows this is true but you do not want to admit it due to unknown reasons. Still the same question: if you do not believe it, why do you care so much?

 

[Backslack]

Obviously your subconscious knows this is true but you do not want to admit it due to unknown reasons. Still the same question: if you do not believe it, why do you care so much?

Hey now, I'm going easy on you. I've yet to mention how your second excuse directly contradicts your original claim of Hyundai "asking" for 2019 G90s to be marked as "service loaners/management personnel vehicles". I thought you said in your excuse that these executives got to "pick" the G90 rather than Hyundai Corporate forcing it on them? Which is it?

Better yet, the G90 as a "service loaner"? When almost everyone on this board who owns a Genesis claim that they aren't even given a Genesis when asked for a loaner, but a Hyundai at best. And now suddenly, you claim that Genesis is freely handing out G90s as "service loaners"?

Your claims are so absurd that all I can do is laugh at them. Clearly, given you put two hours into editing your post, you care more than I could ever dream of.

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[MyCorvette]

Hey now, I'm going easy on you. I've yet to mention how your second excuse directly contradicts your original claim of Hyundai "asking" for 2019 G90s to be marked as "service loaners/management personnel vehicles". I thought you said in your excuse that these executives got to "pick" the G90 rather than Hyundai Corporate forcing it on them? Which is it?

Better yet, the G90 as a "service loaner"? When almost everyone on this board who owns a Genesis claim that they aren't even given a Genesis when asked for a loaner, but a Hyundai at best. And now suddenly, you claim that Genesis is freely handing out G90s as "service loaners"?

Your claims are so absurd that all I can do is laugh at them. Clearly, given you put two hours into editing your post, you care more than I could ever dream of.

What answer you are expecting from me? Your behavior already showed you care so much and agree with me. Why should I disapprove you?

 

[Backslack]

What answer you are expecting from me? Your behavior already showed you care so much and agree with me. Why should I disapprove you?

You might want to start by not "disapproving" yourself, as I already pointed out with your own aforementioned contradictions.

 

[MyCorvette]

You might want to start by not "disapproving" yourself, as I already pointed out with your own aforementioned contradictions.

No one will spent time to argue something which does not make sense. Could you elaborate more on why you care my discussion so much that you spent the whole day wandering in this forum, waiting, counting and replying immediately after I posted any new response?

 

[GarnetTy1473]

Dealers are not going to want to punch a leftover 2019 as a loaner or demo. Hyundai/Genesis does reimburse dealers for using them as demos or loaners, but they only get that money if the vehicle stays in service for a certain number of months and miles (I think it's 6 months). At that point, it is going to be a very very old leftover 2019, with miles, that they are still going to have to try to sell as new.

We cannot keep the 2020 G90s in stock. We get one in, it's gone within days. We've been sending drivers all over the midwest buying other 2020 G90s from other dealers that can't sell them. We had one of best sales months ever for Genesis in May and June. I think we missed our record by just 1 or 2 units.

 

[YEH]

Hope those G70 sales increase. It's bewildering to me the G70 gets SO much praise, yet doesn't sell as well as the stinger... though we don't have the Stinger sales for June yet...

Stinger did appreciably better with 1,527 sales.

Same basic issue as with the ATS, XE and Giulia.

Most buyers are willing to forgo some handling prowess for greater interior space.

 

[YEH]

One of my friend working in the local Genesis dealership told me, during the last few months people from the corporate "asked" the dealership to register 2019 model year G90 leftovers in the inventory, to be used as service loaner/dealership management personal vehicle etc.

Once registered, it will be officially counted as one sale in the month sales report.

Even if true (dubious, concerning the source), it's not any different from what the Germans do (in particular, BMW).

Audi is not as bad as BMW or MB, but then again, they have a rental car company (SilverCar) dedicated to renting out Audis (which not only boosts sales, but offers a steady stream of vehicles for their CPO program).

Plus, (if true) really isn't a big issue as MC has claimed that the rise in G90 sales was due to incentives on the 2019MY, so shouldn't be that many of them left.

Dealers are not going to want to punch a leftover 2019 as a loaner or demo. Hyundai/Genesis does reimburse dealers for using them as demos or loaners, but they only get that money if the vehicle stays in service for a certain number of months and miles (I think it's 6 months). At that point, it is going to be a very very old leftover 2019, with miles, that they are still going to have to try to sell as new.

We cannot keep the 2020 G90s in stock. We get one in, it's gone within days. We've been sending drivers all over the midwest buying other 2020 G90s from other dealers that can't sell them. We had one of best sales months ever for Genesis in May and June. I think we missed our record by just 1 or 2 units.

Hmmm, pretty much the polar opposite of what MC has been claiming.

The F/L G90, new G80 and the GV80 should be fine (pre-orders for the GV80 have surpassed 13k), the problem is the G70 and don't think the FL will have much of an impact as it doesn’t address the space issue.

 

[YEH]

Speaking of incentive spending, Genesis incentive spending since 2016 (includes pre-separation of the Genesis brand) as a % of ATP is right there with BMW and Lexus - all 3 at 10.1%.

That’s lower than Infiniti (14.6%) and Acura (11.7%).

That’s pretty impressive considering that the others all have CUVs/SUVs which are discounted less than sedans.

Genesis actually had a lower % than Lexus from 2016 thru 2018, but the last 1.5 yrs being higher likely due to the aging G80 and wanting to get rid of pre-FL G90s.

 

[Slip_Angle]

Stinger did appreciably better with 1,527 sales.

Same basic issue as with the ATS, XE and Giulia.

Most buyers are willing to forgo some handling prowess for greater interior space.

Yeah, I don't buy the interior space argument. The ATS, XE and Guila don't sell because they aren't top competitors in the segment. They all have their own issues.

I think Stinger sales are still higher because the Genesis brand still lacks recognition and the G70s have no showroom. The Stinger is in all Kia showrooms, so people walk in, see it and get up sold for all the right reasons.

 

[MyCorvette]

Dealers are not going to want to punch a leftover 2019 as a loaner or demo. Hyundai/Genesis does reimburse dealers for using them as demos or loaners, but they only get that money if the vehicle stays in service for a certain number of months and miles (I think it's 6 months). At that point, it is going to be a very very old leftover 2019, with miles, that they are still going to have to try to sell as new.

We cannot keep the 2020 G90s in stock. We get one in, it's gone within days. We've been sending drivers all over the midwest buying other 2020 G90s from other dealers that can't sell them. We had one of best sales months ever for Genesis in May and June. I think we missed our record by just 1 or 2 units.

Would you mind telling me which dealership you are working for? I have connection with GMA management and am able to verify whether a statement is true or false. Upon validated, If your dealership is indeed so lacking of G90 inventory, I may be able to help you to get as many G90 as you want, as long as you can sell them in time.

Could you provide the below information to me? Thank you.

1. VIN of all 2020 G90 your dealership have sold in the past 2 months;
2. What are the other dealerships name that you are going to "buy" their G90 stock;
3. VIN of the G90s that you are going to "buy" from other dealerships.

 

[Backslack]

Would you mind telling me which dealership you are working for? I have connection with GMA management and am able to verify whether a statement is true or false.

You have a "connection with GMA management" but previously referred to a "friend working in the local Genesis dealership" for information about G90 sales? And now you're questioning the legitimacy of a dealer who has been known on this site?

Dude.... what is your problem? How do you manage to never maintain a consistent alibi or opinion without contradicting yourself over and over? If you have industry connections, show them instead of larping like this.

By the way, if you have a modicum of awareness, you would know exactly what dealership the guy works at- it's in his signature. And you can't even read that?