GV60 Canadian Deposit - Local Dealer Information & Timelines

[NLJ]

From the article:

The 2023 Genesis GV60 is a luxury-oriented electric crossover with a high price tag that fails to qualify for federal and provincial EV rebates in Canada. Acceleration and range are satisfying, but handling is marred by the heavy weight while the missing rear window wiper compromises visibility and safety in foul weather.

Koreans have had it for more than half a year and no complaints about the lack of rear wipers. The slope of the rear window is way better than the Ionic and the EV6.

 

[Thundernova]

It's pretty close to what I was expecting. Since I was on the verge of purchasing a Mach E in February for about the same price.

The major difference for me was that Ford gave me about 8 months for delivery at that time, and wouldn't lock in my trade in value until I took delivery. I didn't like being on the hook like that. Genesis reassured me that my trade-in value would remain the same regardless of how long delivery took. That was a huge detail in my eyes.

 

[Jeffrey83]

It's pretty close to what I was expecting. Since I was on the verge of purchasing a Mach E in February for about the same price.

The major difference for me was that Ford gave me about 8 months for delivery at that time, and wouldn't lock in my trade in value until I took delivery. I didn't like being on the hook like that. Genesis reassured me that my trade-in value would remain the same regardless of how long delivery took. That was a huge detail in my eyes.

I really hope for your sake they actually do that. I’ve never heard of a dealership making any guarantees beyond a couple weeks never mind months or a year to hold a value of a car for you. If the GV60 doesn’t arrive until February 2023 can you really hold them accountable to the price offered for a vehicle with an extra year of driving wear and tear and just age to be worth the same as it was in the spring of 2022?

 

[upa]

Having only participated in this forum as a reader, I think it necessary now to finally make my first post with this news finally dropping. It's easy for everyone to be shocked and/or upset at the pricing, but frankly, I think it is a mostly unfair reaction. Genesis clearly chose to hold off on revealing the pricing until they were certain they could come out with a number that made sense. It may seem high, but relatively speaking, it is actually less, if not far less, than the equivalent from any other manufacturer, Audi and Tesla included. It is irrelevant if the Q4 starts at just under 60K so as to potentially benefit from the rebates. Any model that is even relatively equivalent to the base GV60 is going to cost at least the same, if not more, even with the rebate included. The same can be said with Tesla, where the Model Y starts at over 80K. Take the 100KM extra range out of it, and the cars are again incomparable in every way.

I don't think Genesis is looking for a price model that allows an extreme minority of their worldwide market (i.e. Canada, Quebec and B.C. in particular) to benefits from rebates. It is clear already from reviews that this is an EV that stands out from the increasingly boring competition. If the extra cost for luxury, which is clearly not offered by any similarly priced car, again Tesla and certainly Audi included, is not worth it in someone's opinion, that's perfectly fair. But it doesn't mean their pricing is wrong or inflated, it just means that person is not their target market.

I suppose you can look at it that way but in reality GV60 biggest competitor is Hyundai itself. There is just simply not enough value/luxury added to justify the additional $22K for a performance over a Ionic 5 ultimate or 14K difference for the advance vs ultimate. If the person in their target market is meant to be happily oblivious to these value differences then I suppose I'm not the right person to be in their club, lol.

 

[lukez]

Ya no thanks at these prices, value is not there. I rather step up to a model y for a few grand more that has the same performance and way more range or step down to ev6.
What were they thinking with these prices?

 

[jerry_jones]

Ya no thanks at these prices, value is not there. I rather step up to a model y for a few grand more that has the same performance and way more range or step down to ev6.
What were they thinking with these prices?

They recently pushed the price up from $66,000 to $71,000 for the Advanced because they felt Genesis buyers can afford it, will pay it and market dynamics allowed it.

We will see if they are correct.
I am a value purchaser, so for me they were wrong. I just do not see the value. Love the car but I will look for value elsewhere.

 

[moospatra]

I guess the $79k means the party is over. If Genesis confirms that pricing, I’m out. No chance its worth that much to me in this market especially given the range it has. I’m hoping to hear from my dealer soon and walk away. Really disappointed if that has to happen because I was excited for this car for months, but they might have priced themselves out of the market… even compared to themselves with the EV6 and Ioniq 5. Time will tell

I'm supposed to be in the first delivery batch and like you said, If this prices are confirmed, I'm also out !!!

 

[Thundernova]

I really hope for your sake they actually do that. I’ve never heard of a dealership making any guarantees beyond a couple weeks never mind months or a year to hold a value of a car for you. If the GV60 doesn’t arrive until February 2023 can you really hold them accountable to the price offered for a vehicle with an extra year of driving wear and tear and just age to be worth the same as it was in the spring of 2022?

Well I'd agree with you except my sister did this with her palasade purchase just last year. They locked in her price with a km limit and honored the initial value a little over 8 months later. I'm not saying it's a guarantee, but having it in writing seems to give me a huge bargaining chip if they try and back out.

 

[moospatra]

It is expensive, but if you configure an Audi Q4 Sportback fully loaded it is $76k, and the GV60 is a much better car and more luxurious from the reviews I've seen.

Interesting take from this Canadian reviewer who owns an Ioniq 5:

Yes a loaded Q4 has an equivalent price but still got a 12K $ gvt rebate !!
and it's an AUDI

 

[mouch99]

I suppose you can look at it that way but in reality GV60 biggest competitor is Hyundai itself. There is just simply not enough value/luxury added to justify the additional $22K for a performance over a Ionic 5 ultimate or 14K difference for the advance vs ultimate. If the person in their target market is meant to be happily oblivious to these value differences then I suppose I'm not the right person to be in their club, lol.

I see your point, and I'm not necessarily disagreeing. I have an IONIQ 5 myself and intrigue in the GV60 aside, I don't know that I am ready to pay that much more for what it offers. But it is also easy to say that when I got to known 13K off the MSRP because of federal and Quebec rebates.

If we are going to be fair, we have to take the same approach with competitors too. If the GV60 is competing with the IONIQ 5 and EV6, then the Q4 e-tron is competing with the ID.4. The latter fully loaded is almost 50K, the former with nearly equivalent specs, design and features is closer to 70K. Even if you could max out rebates in Quebec at 12K, it's still nearly an 8K difference for what is nothing more than a VW with an Audi badge. In fact, the more accurate comparison would actually be the Q4 Sportback e-tron, which does not qualify for the rebates at all and is actually 2.5K more than the GV60 if packaged similarly. In that vein then, the GV60 is actually better priced vs. it's lower-end cousins than the Q4 Sportback is to it's same.

Again, I am not necessarily arguing that the pricing is fair or that I am absolutely sold on the GV60 over my IONIQ 5. All I am saying is that if you no longer are interested in the GV60 because of the price and would prefer instead to go for the Q4/IONIQ/EV6 because of rebates and resulting price, you have to also be willing to admit that you are inevitably receiving a lesser car. It's okay for the GV60's luxury offering not to justify the price difference for you, but it's an offering that is clearly not available in any of the others cars, including the Q4 Sportback when fully loaded and, consequently, not eligible for the rebates.

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[mouch99]

Yes a loaded Q4 has an equivalent price but still got a 12K $ gvt rebate !!
and it's an AUDI

The Q4 Sportback is actually NOT eligible for any rebates, only the standard Q4 is. If the only other argument is that it's an Audi, then it's only fair to say that brand appeal or loyalty is more important than the product delivered. Genesis is not going to take over the market in a span of just a few years, but when their new models seem to win car of the year almost every single time, they are bound to continue growing and ultimately building up the same brand loyalty as Audi and others already have.

 

[fredf]

I'm wondering what kind of price range the GV70 and GV80 will come in at with these prices for the GV60. Just how high can Genesis go with this?

 

[Jeffrey83]

I see your point, and I'm not necessarily disagreeing. I have an IONIQ 5 myself and intrigue in the GV60 aside, I don't know that I am ready to pay that much more for what it offers. But it is also easy to say that when I got to known 13K off the MSRP because of federal and Quebec rebates.

If we are going to be fair, we have to take the same approach with competitors too. If the GV60 is competing with the IONIQ 5 and EV6, then the Q4 e-tron is competing with the ID.4. The latter fully loaded is almost 50K, the former with nearly equivalent specs, design and features is closer to 70K. Even if you could max out rebates in Quebec at 12K, it's still nearly an 8K difference for what is nothing more than a VW with an Audi badge. In fact, the more accurate comparison would actually be the Q4 Sportback e-tron, which does not qualify for the rebates at all and is actually 2.5K more than the GV60 if packaged similarly. In that vein then, the GV60 is actually better priced vs. it's lower-end cousins than the Q4 Sportback is to it's same.

Again, I am not necessarily arguing that the pricing is fair or that I am absolutely sold on the GV60 over my IONIQ 5. All I am saying is that if you no longer are interested in the GV60 because of the price and would prefer instead to go for the Q4/IONIQ/EV6 because of rebates and resulting price, you have to also be willing to admit that you are inevitably receiving a lesser car. It's okay for the GV60's luxury offering not to justify the price difference for you, but it's an offering that is clearly not available in any of the others cars, including the Q4 Sportback when fully loaded and, consequently, not eligible for the rebates.

That’s true the Q4 sportback is higher priced then the Q4, but Genesis has never exceeded and in fact always significantly undercut the price of its German rivals. In this case they have exceeded the price of the competition, although yes it is still cheaper then a model Y, although with less power less range and significantly less space, so it’s like saying the X3 is cheaper then a Q7

 

[Edges]

Well it's been fun speculating over the past couple months. Sadly, at that price, more value can be had elsewhere. I really hope they would change their mind but it's simple economics. They know they have a limited supply and can't satisfy all demand, so might as well jack the price to satisfy the demand they can meet. On the bright side, I will soon be $1000 richer again!

 

[ToniL]

I suppose you can look at it that way but in reality GV60 biggest competitor is Hyundai itself. There is just simply not enough value/luxury added to justify the additional $22K for a performance over a Ionic 5 ultimate or 14K difference for the advance vs ultimate. If the person in their target market is meant to be happily oblivious to these value differences then I suppose I'm not the right person to be in their club, lol.

I agree. With the Ioniq 5 Ultimate coming in just over 60 and the BC and federal rebates essentially cancelling out tax, that leaves the GV60 with tx around 20k more as you say. And I guess that also makes me a value buyer, because I don't think it is that much of a step up.

 

[Jeffrey83]

I agree. With the Ioniq 5 Ultimate coming in just over 60 and the BC and federal rebates essentially cancelling out tax, that leaves the GV60 with tx around 20k more as you say. And I guess that also makes me a value buyer, because I don't think it is that much of a step up.

This does scare me as to what the HMG is looking to add to prices for the Ioniq and EV6 next year. I guess the increase in Izev won’t be beneficial for many customers

 

[maheuxp]

In a sense, It's a fair price. But in the end Genesis, Acura, Infiniti, lexus all need to undercut AND possibly offer more to compensate for lack of branding versus BMW, Audi, Tesla, etc. I saw the BMW ix4 and it is a very very luxurous car for only 5k more than the GV60 performance.
I guess it will be EV6 GT 2 for me. 7k less + 12 k government rebate = 19k +interest.
Otherwise, I would just keep my very satisfying X3 and fill it with gas for a few more years.
At least we now know whta to except, so a good day...Thanks to you all for this feed.

 

[cduicu]

I wonder if Genesis corporate follows this thread and see how many of the folks that were anxiously awaiting to purchase the car are now seriously considering cancelling. I do see som that say the price is not unfair, but I disagree. Especially for provinces that do not have incentives, this car is quite expensive. GV60 gets rave reviews but it does not seem to be off to a great start pricewise. If this is their base, what will happen to the future electric of their larger more expensive cars? Heavy sigh...

 

[MovingOn]

...And here I thought my big decision point would be whether it sits up high enough. *sigh*

 

[NLJ]

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