How is the Genesis selling? Hyundai's marketing VP spills the beans

[Sal Collaziano]

Filed under: Car Buying, Sedans/Saloons, Hyundai

Click above for a high-res image gallery of the Hyundai Genesis
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It's no secret that Hyundai's big push upmarket has come at a difficult time. With monthly sales plummeting and available loan capital shrinking, the Genesis sedan has seemingly picked an inopportune moment to roll onto America's bloodied dealership forecourts. In spite of this, the Korean automaker expects for sales to surge by 4 percent in 2009. Part of that increase will be on the back of inexpensive models like the new Elantra Touring, but the Genesis sedan will also have to carry some water for the automaker.

All of which has us wondering... how are sales of the Big Hyun going so far? Well, according to a new article by MediaPost, pretty darn well. The marketing publication interviewed the company's U.S. vice president of marketing, Joel Ewanick, and while he acknowledges the tough sales environment, he builds a pretty compelling case.

Among them: Over the past 90 days, the Genesis has sold "at or near objectives" and the company considers its performance to be "a very healthy launch." The sedan went on sale in July, and dealers have shifted 5,127 units thus far, including 1,151 last month. Ewanick notes that fully 90 percent of all Genesis buyers are originating outside of the brand, including 40 percent that "have traded in vehicles like Lexus, BMW, Mercedes, and Porsche." In addition, the Hyundai veep believes that the Genesis has helped contribute to brand-building, citing awareness and consideration figures that have jumped 25 percent in 2008 alone.

Judging by Ewanick's remarks, while the Genesis sedan may not be blowing out initial sales projections, it is performing solidly. Perhaps a down economy is exactly the right sandbox for the value-conscious Genesis to play in after all.

[Source: MediaPost]
How is the Genesis selling? Hyundai's marketing VP spills the beans originally appeared on Autoblog on Tue, 30 Dec 2008 19:29:00 EST. Please see our terms for use of feeds.



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[Simonwpb]

All good points. Lets see what happens 1st Qtr when the advertising kicks in.

 

[Gold Z]

It's so much car for so little money, how could it not succeed?

 

[Sal Collaziano]

All good points. Lets see what happens 1st Qtr when the advertising kicks in.

What's this about first quarter advertising?

 

[JOwest]

What's this about first quarter advertising?

I believe Simonwpb refers to the fact Hyundai will spend big bucks on ads first qtr of 2009. Superbowl and others.

 

[gerryb]

Note that Hyundai's strategy for this car was not to create a separate division and network.. but to put that multi-billion investment into the car itself as well as marketing and advertising. They SHOULD have the best ads possible. So far, the 2008 ads have been good, but I expect them to up the ante this year.

 

[jpdesimone]

What's this about first quarter advertising?

Hyundai will be a major sponsor of the Super Bowl, introducing the Genesis Coupe models during the game. Additionally, they are hammering home their Hyundai Assurance Program via television ads currently. Lastly, it is my understanding from being on the Hyundai Think Tank forums that they will be sponsoring the Grammy's or American Music Awards, can't recall exactly which. And of course the Genesis will be product placed in the television show "24" which begins this weekend I believe.


- Joe