Resale / Depreciation?

[BlancaGenny]

so you do know that "Genesis Motors" has been the High End brand in Korea since 2007? It was conceived in 2003 and brought to market in Korean in 2007, the fact is the "Genesis" and "Equus" cars we know here in the USA have always been the Genesis Motors brand in Korea since their inception, not tarted up Hyundai's.

I did not know that. Thank you for the enlightenment. But digging a bit deeper, the brand was introduced in 2004. It didn't officially become a standalone brand until November 2015. Your saying they sold a car that was called Genesis "XYZ" back in 2003? Please let me know where that info is found or where you got it.

Huge difference. Yes, the G80 is a tarted up 2G. It is NOT a tarted up Elantra. It is a car that was designed to be a RWD luxury vehicle from the start. Tuscon is designed to be a modest FWD for a different market. To try telling people is is a luxury SUV because it has a nicer seat and badge would be silly.

The G80 should cost more than the 2G. I've owned both. Now I get included service, concierge, map updates and those free services have a price. I've also owned a few Sonatas. Nice cars, but they are not a Genesis. They were smart enough not to try and make the Sonata a G70 or even a G60.

To each their own. I think the Tuscon is one of the best looking SUVs on the market, no matter the class. The build quality on HMC cars far surpasses any of the mainstream American brands and some European. We all know Merc, BMW, and Audi entry-level cars are not to be mistaken with Hyundai/Kia entry-level cars. What was meant was for Hyundai to build upon the Tuscon and give it the luxury touches it needs to be a part of the Genesis brand. Out of all of their SUVs, I think that is the best platform to start.

 

[EdP]

What was meant was for Hyundai to build upon the Tuscon and give it the luxury touches it needs to be a part of the Genesis brand. Out of all of their SUVs, I think that is the best platform to start.

I agree it is a nice looking SUV. If you want to have the image of RWD luxury cars. using a FWD platform is not a good start. It just doesn't fit.

 

[Starflyer]

Huge difference. Yes, the G80 is a tarted up 2G. It is NOT a tarted up Elantra. It is a car that was designed to be a RWD luxury vehicle from the start.

I don't mean to be picky, but in the automobile world, all manufacturers would refer to the G80 as ALL NEW. Certainly not tarted up.

Comparing the '16 Genesiis (Hyundai) to the '18 Genesis on kbb.com, the body size appears to be the same, although the weight of the '18 is 536 lbs more. '16 horse power 311--'18 365 horse power, '16 293 lbs torque--'18 376 lbs torque.

KBB shows the '16 Genesis as a Hyundai model while the '18 is listed as a Genesis only while still made by Hyundai. The only previous Genesis models I've seen were at the local annual Auto Show. Don't remember ever getting into the earlier models at the show. They may have even been locked.

I primarily bought my G80 Sport for all the goodies compared with say a Lexus at a higher price for the same size and equipment. And then there were the car rating services such as Consumer's Report that gave the Genesis a very high rating.

A person becomes much more aware of the vehicle they're driving when they see others driving the same model. While not the last word, I think I've only seen 5 or less Genesis models on the road in my neck of the woods (Greater Seattle Area) since I bought mine (end of March).

 

[EdP]

I don't mean to be picky, but in the automobile world, all manufacturers would refer to the G80 as ALL NEW. Certainly not tarted up.

Comparing the '16 Genesiis (Hyundai) to the '18 Genesis on kbb.com, the body size appears to be the same, although the weight of the '18 is 536 lbs more. '16 horse power 311--'18 365 horse power, '16 293 lbs torque--'18 376 lbs torque.

I've owned a 2015 and now a 2018 G80. Maybe not tarted up, just refreshed. Not only is the body size the same, most of the panels and glass is identical though the front panel was changed a bit. Headlights are LED. Since it is a new brand you can call it a new car, but it is the Hyundai with a new hat and gloves, same underwear.

KBB seems to be comparing different engines. 3.8 is 311hp and the 3.3TT is 365hp both years.

 

[mikemu30]

If Genesis models hold value similar to Hyundai, depreciation first few years will be excessive.

 

[EdP]

If Genesis models hold value similar to Hyundai, depreciation first few years will be excessive.

Yes, true, but you have to compare total cost of ownership compared to other cars. You get a pretty good up front discount by comparison to equally equipped other brands.

 

[Electrode]

If the 100,000 mile powertrain warranty was transferrable to the 2nd owner, it might hold a better resale. But that would raise their warranty costs and then the retail price. I plan on hitting 100K in 5 years, so the value is there for me.

 

[mikemu30]

Test it - take one year old comparative models from Hyundai, Toyota and Honda and see what the trade values are after the one year. You lose bigtime even after a high up front discount. Don't get me wrong as I'm a Hyundai owner for the last six years and currently have an Azera which is a great car. Just plan to keep the car a long time before you purchase or yiu risk a huge hit if you decide to dump it early on.

 

[ikonn]

I can't speak for another agency but my Prestige has around that many kms and I would never sell it for that little. It would easily sell for more.

Hey GenesisYEG, I am trying to get a G70 through my company’s fleet program. But I have heard that Genesis is not offering the normal fleet discounts that most other companies do? Are you working with corporate fleet companies?

 

[GenesisYEG]

Hey GenesisYEG, I am trying to get a G70 through my company’s fleet program. But I have heard that Genesis is not offering the normal fleet discounts that most other companies do? Are you working with corporate fleet companies?

Messaged.

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[Edmguy]

Getting back to the topic of resale/depreciation of the G70 (and not arguing about Hyundai Genesis vs Genesis G80, etc... come on guys, you argue about this in every other forum on this site, try to keep it out of the G70 section...) Edmonton Genesis is selling their G70 3.3T Sport for $52,995 which is $4500 off of new and it has 11k on it. Presumably it will go for a little less. Possibly a decent deal for someone. Not as much of a discount as the one in Ontario though.

Also pretty sure this is the one I drove. Twice.

Demo 2019 G70 3.3T Sport

 

[canucklehead604]

^ yeah i noticed that too. decent deal, if you don't mind a car that has lived a potentially hard first 11k kms. any performance-oriented car will be exploited as a demo. people will want to see what it can do. whether or not this has a long term impact on reliability, etc, is debatable. i suppose it would only be a real concern for a buyer (non-lease) who keeps vehicles a long time. this is my situation and why i do not look at demo units despite the discount.

 

[canucklehead604]

so there are now at least three 3.3T Sport AWD's available in western Canada for a significant discount off MSRP. all are demo or executive (GXM) units from what i can tell. MSRP is $57,500 CAD, and these are all listed $8600 (15%) off MSRP:

 

[Beefer]

^ Wow...I can just imagine how abused these poor cars are. You'd be a brave person to jump on one of those !

 

[NLJ]

Genesis of London has had a Prestige demo for sale for the longest time. At least since the end of August I believe and still no bites. Even listed on Kijiji.

 

[BlancaGenny]

so there are now at least three 3.3T Sport AWD's available in western Canada for a significant discount off MSRP. all are demo or executive (GXM) units from what i can tell. MSRP is $57,500 CAD, and these are all listed $8600 (15%) off MSRP:

View attachment 16520

If you get them with the "new" car warranty, I'd jump all over it. 5/60k BTB and 10/100k powertrain? You'd be foolish not to jump on it. Heck, hangle them down even more by saying "do you know how many joy rides this car has been on?"

 

[mikemu30]

If you get them with the "new" car warranty, I'd jump all over it. 5/60k BTB and 10/100k powertrain? You'd be foolish not to jump on it. Heck, hangle them down even more by saying "do you know how many joy rides this car has been on?"

Honestly the smartest way to buy a car and avoid a huge chunk of that initial depreciation - in particular with this brand.

 

[BlancaGenny]

Honestly the smartest way to buy a car and avoid a huge chunk of that initial depreciation - in particular with this brand.

Agreed. My old man bought his G8 GT as a new car but it had 6k miles on it from demos. He saved $7k. Unless people are buying these cars and putting them in storage for "collecting", there's no reason one shouldn't. If there is a problem with the car mechanically, it's safe to say it'll happen before 100k miles

 

[ikonn]

I did not know that. Thank you for the enlightenment. But digging a bit deeper, the brand was introduced in 2004. It didn't officially become a standalone brand until November 2015. Your saying they sold a car that was called Genesis "XYZ" back in 2003? Please let me know where that info is found or where you got it.


To each their own. I think the Tuscon is one of the best looking SUVs on the market, no matter the class. The build quality on HMC cars far surpasses any of the mainstream American brands and some European. We all know Merc, BMW, and Audi entry-level cars are not to be mistaken with Hyundai/Kia entry-level cars. What was meant was for Hyundai to build upon the Tuscon and give it the luxury touches it needs to be a part of the Genesis brand. Out of all of their SUVs, I think that is the best platform to start.

To give you some context on launching a luxury brand: I am new to Genesis and my other two cars are German brands with well above average performance levels.

I may or may not be representative of Genesis’ target market, but if they want to play with the luxury performance crowd, going with just tarted up Hyundai products (as good as they may or may not be) would doom the new brand launch. They need conquest sales and credibility. If the G70 was a tarted up Sonata, there would be 0% chance that I would have considered it.

Even so, knowing that it’s a tarted up Stinger and also knowing that my service will be done at a Hyundai shop, I almost still turned away. But the G70 is good enough in its own right that I got it. Still, I guarantee that a lot of my badge snob family and friends will question my choice.

 

[BlancaGenny]

To give you some context on launching a luxury brand: I am new to Genesis and my other two cars are German brands with well above average performance levels.

I may or may not be representative of Genesis’ target market, but if they want to play with the luxury performance crowd, going with just tarted up Hyundai products (as good as they may or may not be) would doom the new brand launch. They need conquest sales and credibility. If the G70 was a tarted up Sonata, there would be 0% chance that I would have considered it.

Even so, knowing that it’s a tarted up Stinger and also knowing that my service will be done at a Hyundai shop, I almost still turned away. But the G70 is good enough in its own right that I got it. Still, I guarantee that a lot of my badge snob family and friends will question my choice.

I'll ask two questions.. How many people know the Optima and Sonata run on the same platform? I will put the majority of my dignity on the line and say there is a very small amount of owners that dig that deep to look and see if it's the same platform or not.

Next, considering sedans are not the largest seller anymore, how many people do you think know that the Sante Fe and Sorento ride on the same platform? Even less.

And maybe another if you want to dig even deeper. Did you know that the Audi Q7 and the Lamborghini Urus ride on the same platform? Shocker, I know. The Audi starting at a dismal $53,550 for the 2019 year. Urus? $200k.

The luxury market is doing the same thing as entry-level and mid-level manufacturers. I don't think you can sit there and state my "tarting" up comment would "doom" a new brand. Audi, BMW, Lamborghini, Kia, Hyundai; all the same thing. Our niche as ethusiasts is very small compared to the consumer market. We may know about the shared platforms/chassis's, but that'll only keep sales down in the double digits; not even close to dooming a new car brand.