GV80 will be limited to <2000 units per month in North America

Backslack

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Production begins this week. For reference, the X5 sells 3-5K units per month in the US alone.

Article is in Korean, but Google Translate gives the gist of it:

According to the automobile industry on the 13th, Hyundai Motor Company will start producing exports of GV80 at its second plant in Ulsan from the 14th. Ulsan Plant 2 is a major production base that makes popular SUVs for Hyundai Motor Company and Genesis such as Tucson, Santa Fe, Palisade and GV80. Hyundai Motor Company plans to produce 2,000 vehicles per month on the GV80 production line at Ulsan Plant 2, and most of them are expected to be exported to North America. A Hyundai Motor Company official said, “Production of the GV80 for export to the US will begin this week,” and “the US launch schedule is currently being adjusted.”


Really hope this doesn't end up being another Kia Telluride situation with greedy dealers overcharging limited supply.
 
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mcornett

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If this is only the beginning of production we won’t see them in North America for at least two months. :/
 

Aquineas

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I know Ulsan used to be the world's largest auto plant (and is still #2 to Volkswagen), but that's a lot of vehicles that they make there.
 

ctsooner

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Based on a few dealers I've spoken to, they are already placing a premium tag on them. No way will I pay a dime over MSRP. I need to see what they put the residual at and how much the money factor will be along with what loan rate they will charge if I purchase. I turn in the Jag next week and will go without. I may just go without a primary car for myself for some months. Glad they are up and running finally.
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YEH

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Seems low for NA, much less for other markets like Russia, the Middle East and Australia.

Even for just NA, should be doing at least 2,500/month.
 

ctsooner

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That may be all they can supply for now. I too thought it seemed low, just based on what others are selling. At least they will be out in the next 2 months as they said they would. I wonder if/how they will 'relaunch' both cars and also if the excitement has waned a bit.
 

Backslack

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With the 15,000 preorders or so for the GV80 in the States, it would take over half a year for everyone who preordered to get theirs once it's released. This is excluding those who buy on-site. The supply is definitely too low. Dealers will take advantage of that.

Hyundai seems to be under a lot of strain with their manufacturing capabilities currently. Even the US plant is operating at maximum capacity and still falling behind on orders. I don't believe this is COVID-related.

 

3.3 Rulz

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Koreans are coming out with new stuff every 5 minutes, G80, GV80, K5, Sonata, 2022 Tucson..., it'll probably take forever for cars to get here and be available without a markup.
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TurtleBoy

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Seems low for NA, much less for other markets like Russia, the Middle East and Australia.

Even for just NA, should be doing at least 2,500/month.

My first thought is it is higher than I thought it would be. If they sell 2k a month to start, mostly in the US, I would think they will consider that a success. We will see how things look in a year or so, that number will likely go higher.
 

wheeling

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Not all orders will be filled. 70% would be good, I guess. Many orders are before COVID-19 and many of them will either delay or forgo altogether. So if Genesis can sell 20,000 in the first year, it will definitely be a success.
 

Backslack

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Many orders are before COVID-19 and many of them will either delay or forgo altogether.
According to the article in the OP, there were 13,000 reservations for the GV80 as of July, which has been confirmed by US sources. In May, that number was slightly below 10,000:


So the US reservations actually went up even with COVID-19. I recall they're around 15,000 now in a recent article from Automotive News. I'll get back to you when I find it.
 
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Ptcrusn

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Based on a few dealers I've spoken to, they are already placing a premium tag on them. No way will I pay a dime over MSRP. I need to see what they put the residual at and how much the money factor will be along with what loan rate they will charge if I purchase. I turn in the Jag next week and will go without. I may just go without a primary car for myself for some months. Glad they are up and running finally.
I talked to my sales rep the other day and told him the same thing...I refuse to pay any amount over sticker. He agreed, but that doesn't mean the dealership won't do it. Interesting, however, he said most of the people who put down deposits have already asked for them back. This has been really poorly handled by Genesis.
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wheeling

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According to the article in the OP, there were 13,000 reservations for the GV80 as of July, which has been confirmed by US sources. In May, that number was slightly below 10,000:


So the US reservations actually went up even with COVID-19. I recall they're around 15,000 now in a recent article from Automotive News. I'll get back to you when I find it.
I saw that number somewhere too, but I believe that was an accumulation total number of people who have made a reservation, not the net reservation. The pandemic certainly has a negative effect on this.
 

Backslack

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Based on personal observation. Many people are delaying or cancelling their plans of purchasing a new vehicle.
And what makes you think the current number isn't already taking that into account?

The data has nothing to do with your own general anecdotal observations.
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AJB

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The longer delays continue the more cancellations will occur. People will only wait so long before they lose patience, that's just the reality of human nature. I wonder how many buyers who ordered back in Jan/Feb are still waiting or moved onto other SUV's from the competition. At 2,000 units per month with about 8,000 to 12,000 pre-ordered that will take 4 to 6 months just to fulfill ordered vehicles to this point let alone open inventory for dealers to have on their lots. I put my deposit down in July and I'm certainly not going to wait until January for my GV80...
 

MyCorvette

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The GV80, mechanically may be good, however the execution of production, sales and service quality are going to ruin it.
 

AJB

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What I'm hoping which I think is highly probable is Genesis executives realize as a premium brand they need to have sales and service act that conduct themselves in a premium manner. Genesis knows and is pushing for separate dealerships (such as Inifiniti/Lexus/Acura). From what I was told my dealership has already bought a separate building next door to their Hyundai dealership to separate the showroom and salespeople for Genesis.

On another note many manufacturers are behind schedule with their 2021 cars due to COVID-19, it's not only Genesis. It's frustrating and if I have to wait until next year I may look for another brand to buy. The biggest challenge with the GV80 is that's it's a brand new model so there's no 2020 leftovers to buy. The G80 is also an issue as it's been redesigned so people have their eyes set on the all new model which also looks really good.

I browsed some Jaguar SUV's over the weekend and I can only find 2020 leftovers and the technology isn't up to the GV80's technology let alone the looks.
 

wheeling

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I agree, they are pushing out too many new models in such a short time, the toll on logistics and service would be tremendous. Somewhere somehow the balls would drop. The 3rd row seats of the GV80 is a good example.
 
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