Would you still buy if Hyundai raised prices?

[xpediency]

I'm just a little curious if current owners could chime right into this question for me. Would you guys still buy the Genesis if Hyundai raised the price to say 50-60k (maybe GS territory) if they were to be more competitive with Lexus in terms of a more upscale interior? Or maybe not even raise the prices, but add another package named Prestige or what not that is 50-60k?


The link below is to Hyundai korea's website on the Genesis (non-prada).
Several things that immediately jump out that USA variant doesn't have that I would actually love to have are:

-New AFLS LED from Prestige and Prada edition
-Lamenent glass that repels water and also block UV to reduce interior heat (Like Lexus currently has)
-superior leather with detailed stitching (possibly more plush)
-reverse tilting mirrors (USA probably has this, but not entirely sure since they don't advertise on the website)
-premium looking color options near the bottom of the page
-air suspension

Now with prada stuff:

-front camera like on Equus Ultimate Edition
-rear entertainment console that controls radio, center TV, reclining seats, and possibly 3 or 4 zone climate

Probably missing way more as I cannot read Korean and Google's translate is not sufficient enough.

http://www.hyundai.com/kr/showroom.do?carCd1=RD016


What I can conclude so far is that Hyundai can in fact compete with Lexus, but refuses to do so in the states because people still can't get over the fact that in the end it's still a Hyundai. Recently I've been bouncing back and forth in a fully loaded used LS460L and a Genesis. I know they do not compete with each other, but I am cross shopping because of the price. What I do know is that if Hyundai did provide me with all these options, I probably would have bought a Genesis already.

I also am aware that there is an Equus, but for some reason, I'm not really fond of that car as much as the Genesis. If you could fully load the Genesis and it is comparable to the Equus with the same price, I'd probably still go with the Genesis.

Edit: Meant to do 50-60, not 60-70k lol

 

[Gunkk]

Would you ...still buy the Genesis if Hyundai raised the price to say 60-70k?

Hell no.

 

[Rudderman98]

I'm just a little curious if current owners could chime right into this question for me. Would you guys still buy the Genesis if Hyundai raised the price to say 60-70k (maybe GS territory) if they were to be more competitive with Lexus in terms of a more upscale interior? Or maybe not even raise the prices, but add another package named Prestige or what not that is 60-70k?


The link below is to Hyundai korea's website on the Genesis (non-prada).
Several things that immediately jump out that USA variant doesn't have that I would actually love to have are:

-New AFLS LED from Prestige and Prada edition
-Lamenent glass that repels water and also block UV to reduce interior heat (Like Lexus currently has)
-superior leather with detailed stitching (possibly more plush)
-reverse tilting mirrors (USA probably has this, but not entirely sure since they don't advertise on the website)
-premium looking color options near the bottom of the page
-air suspension

Now with prada stuff:

-front camera like on Equus Ultimate Edition
-rear entertainment console that controls radio, center TV, reclining seats, and possibly 3 or 4 zone climate

Probably missing way more as I cannot read Korean and Google's translate is not sufficient enough.

http://www.hyundai.com/kr/showroom.do?carCd1=RD016


What I can conclude so far is that Hyundai can in fact compete with Lexus, but refuses to do so in the states because people still can't get over the fact that in the end it's still a Hyundai. Recently I've been bouncing back and forth in a fully loaded used LS460L and a Genesis. I know they do not compete with each other, but I am cross shopping because of the price. What I do know is that if Hyundai did provide me with all these options, I probably would have bought a Genesis already.

I also am aware that there is an Equus, but for some reason, I'm not really fond of that car as much as the Genesis. If you could fully load the Genesis and it is comparable to the Equus with the same price, I'd probably still go with the Genesis.

No.

Not for 60 or 70 large. Reviewing the Hyundai Korea website really disturbs me in the fact that the Korean models have much more going for them than their US counterparts. Do U.S. car companies downgrade their cars when they ship overseas?

How about those brake calipers. Wouldn't those look nice with a big Rspec logo on them? Those are sharp. Did you see the nice GENESIS logo embossed on the seats? The new 2013 Azera has that on them so why don't the 2013 Genny's have them. The Genesis has been around for four years now and all Hyundai can do to make the car better is to add an eight speed tranny and GDI to the engines. And on top of that, raise the price. Hyundai could of added the Korean options little by little every year to build up excitement for the upcoming new Genesis but failed to do so leaving current owners wondering why? My sons 1996 Oldmobile Aurora with a Northstar V8 has more features than the Genesis. Even he begs the questions to why Hyundai didn't do this or that.

I feel that Hyundai really has done a piss poor job marketing this car to their U.S. customers. And their recent offering isn't any better. There are threads among threads of the shortcomings of the Genesis so I won't go into detail of what I wish the car has and doesn't have. But just looking at what we don't have really irks me. And lets not get into the dabate of what those options would of cost. We all know what it costs to make products overseas. Especially in Asia.

Don't get me wrong. I LOVE my 4.6 Genny. It's a great car for the price and I get comments all the time about it. But.....

Lets hope the 2014 is better. My lease will be up just as the 2015's come around the corner. An upgrade would be nice if Hyundai gets it right.
My .02

 

[xpediency]

Sorry about that absurd price that left my mind. I meant to say 50-60k, not 70k...

Speaking of cars going to the US that are gimped... Believe it or not, the LS460L has a L-select option which adds even more luxury to the car.

One of their representatives said the reason you cannot buy it or even have it shipped to the USA is because American customers really don't want to spend the extra money nor wait a couple of months for them to construct it to customer specs.

There are 6 static types you can choose or customize your own. Here's the Presidential Suite:
http://lexus.jp/models/ls/l-select/presidential_suite/index.html

 

[Mark_888]

I'm just a little curious if current owners could chime right into this question for me. Would you guys still buy the Genesis if Hyundai raised the price to say 50-60k

This forum has a zero tolerance drug policy.

If you want a Hyundai with all those features at the price you suggest, you should look at Equus.

 

[bmbutler]

My answer is no. The Hyundai name still drags down the value of their cars like a heavy anchor on a sailboat. Many of their dealers still treat their customers like they did back in the early 1990's (too many stories to tell), silly issues with cars that Hyundai refuses to acknowledge (passenger seat shaking - "oh, all the Genesis's do that. Huh?) and cheap parts (Front windshield on my Genesis shows so many dings it is crazy. My driving habits haven't changed nor has the places I generally drive to around town.)

Hyundai won't be overly successful in the luxury market until they step up to the luxury market level of customer experience IMHO. Have owned 7 Hyundai's since 1989 (8 counting my parent's Excel) and their level of service (or lack there of) is the same as it was then. Very doubtful I will be buying or leasing a new Hyundai once my current lease is up. Already looking to go back to Toyota or even up to the Lexus line.

 

[snork]

I'm gonna go with no as well.

First off, IMHO a Lexus/MB/Audi is still "nicer" inside and out and a notch up in craftsmanship and build quality...not necessarily reliability though.

Second, you still have to deal with Hyundai service/sales. I believe my dealer to be pretty good, but you definitely don't get the same experience as going to a higher end dealer (my Dad has owned both Audis and MBs). I think I was fortunate to have gotten a "good" salesman since I came in and told the sales manager I was interested in a Genesis. I could hear the guy at the desk behind us trying to make a sale to a kid that could barely afford an Elantra and it was a pretty slimy discussion Though to their credit, they were working with the kid to try and get the loan paperwork to push through anyway possible.

On the service front, I'll say my dealer's actual service is still above average in this regard. But the experience is less than desirable. The service counter is dimly lit and kinda grimy and the waiting room is literally 10x10 and is like sitting in a stuffy cage. I've had way better experiences at both Honda and Subaru which are on the same level as Hyundai in general. Also, getting a loaner car from them is like pulling teeth unless the car is going to be in for days for major service. My Subie dealer is no problem getting a loaner...often a Legacy or Outback (we own a Tribeca), but an Impreza at the very least is never a problem.

TBH, I got my Genny CPO used. I was looking at Lexus GS350s and Infiniti M37s as well, but any decent low mileage ones were just out of my price range. I bought the Genny on value for an awesome car. Had I another $10k in the car budget, I'd probably be driving a Lexus or Infiniti right now

 

[EXBMWGUY]

In 5-7 years, perhaps yes. In 2 years, probably not. I look at the sheer velocity of Hyundai's improvements on nearly all levels in such a short time, compared to how many decades it took MB, BMW, Audi, etc. and I conclude they will surpass the others at some point. The Germans and Japanese have let layers of bureaucracy, entrenchment, and complacency creep in, and those things manifest themselves in an internal culture that stalls progress, agility, and corporate "willpower."

So it's not that Hyundai is better in these areas than the established premium and luxury carmakers, but their rate of improvement is far greater than the others. When they will pass others, I don't know.

 

[snork]

In 5-7 years, perhaps yes. In 2 years, probably not. I look at the sheer velocity of Hyundai's improvements on nearly all levels in such a short time, compared to how many decades it took MB, BMW, Audi, etc. and I conclude they will surpass the others at some point. The Germans and Japanese have let layers of bureaucracy, entrenchment, and complacency creep in, and those things manifest themselves in an internal culture that stalls progress, agility, and corporate "willpower."

So it's not that Hyundai is better in these areas than the established premium and luxury carmakers, but their rate of improvement is far greater than the others. When they will pass others, I don't know.

I agree!

What I haven't seen from Hyundai yet is a dealer wide program that "requires" them to upgrade their facilities. If you look at Honda/Toyota dealers they are mostly all refurbing their facilities. I'm a consulting electrical engineer and one of our projects is the rehab of a local Honda dealership. It'll be a freaking Taj Mahal if the local planning/zoning boards ever approve it I asked the owner of the dealer why all the improvements? He basically said to maintain top-tier status within Honda's dealer network (ie: higher priority of car shipments/parts/etc) he needed to do it. This is no small financial obligation as it will cost a couple million dollars to completely rebuild his entire lot over 2 years.

 

[YEH]

Hyundai will raise the price on the 2G Genesis and it will have an interior on par with the GS and M, but the price increase will not be to the level of the GS and M since Hyundai does not have to price in the cost of separate luxury brand and dealer network (so still will have around a $7-8k price advantage; maybe less than that if Hyundai ups the service to include things like guaranteed loaners).

It would be suicidal if Hyundai were to raise prices to the level of the GS and M since Hyundai isn't providing a separate luxury brand/dealer network.

Now, it would also be a bad business move for Hyundai to provide a separate luxury brand/dealer network and raise prices on par w/ the GS and M since Lexus almost canceled the GS due to poor sales (did end up killing the V8 GS) and M sales are starting to get to RL territory - since it would put Hyundai in the same boat as Lexus and Infiniti when it comes to competing against MB and BMW.

The 2G Genesis should start around $38-39k to reflect the more luxurious interior and added tech; this would still undercut the GS and M by a healthy margin.

The Genesis, even w/o AWD, is outselling the newer M and is selling as well as the brand new GS in NA; the new Genesis should once again outsell the GS.

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[Mark63021]

In 5-7 years, perhaps yes. In 2 years, probably not. I look at the sheer velocity of Hyundai's improvements on nearly all levels in such a short time, compared to how many decades it took MB, BMW, Audi, etc. and I conclude they will surpass the others at some point. The Germans and Japanese have let layers of bureaucracy, entrenchment, and complacency creep in, and those things manifest themselves in an internal culture that stalls progress, agility, and corporate "willpower."

So it's not that Hyundai is better in these areas than the established premium and luxury carmakers, but their rate of improvement is far greater than the others. When they will pass others, I don't know.

+1

 

[1fujifilm]

Let me modify the question for myself since I just bought a new 2012 Genesis with a sticker of $39,000 for $26,500;
"would I buy a new Genesis if a $12,500 rebate/discount was unavailable"?

No. I needed the extra rebate/discount to pay for the excessive depreciation that I will experience in 4-5 years.

 

[homeofstone]

Yes if under 50k. Over 50 k I would look at another E550 or Infiniy M .

 

[triple33]

Part of Hyundai's allure is you get alot of car and features in this a Genesis for a relatively good price compared to other luxury brands. This is a big selling point to me and many other I am sure. If they raised prices would not see myself buying another.

 

[snork]

To add...I also agree/think the 2G 2014 Genesis will see a somewhat "healthy" base price bump to the $35k-$38k price range. My guess is $37.5k base.

This seems inevitable given that the new Azera (which is also a very nice car IMHO) now starts at $32,250 and the current Genny starts at just $34,200. Considering the Genny is marketed in the "Premium" category and will hopefully get some more useful upgrades vs. the Azera, I can only see the price going up

 

[packerfan31]

Hell no.

no

 

[LA Genesis]

A big price increase and I buy a Lexus or maybe the new, large Acura sedan.

I think the price increase for the second generation Genesis will be modest. The economy is coming around but it's still not healthy. The new Azera came with a price increase and I never see one of them on the road. I'm guessing that car is a total failure saleswise.

Genesis still has problems with the service experience, the Hyundai name, and imho quality. Have you seen the latest JD Power survey? Hyundai got hammered--rated below average despite good words for Sonata. Maybe these electrical problems are finally catching up to Hyundai.

I bought my Genesis because of the value, fuel economy, perceived improvement in quality, and styling. I am disappointed in the quality which I feel is on a par with Chevy. But for nearly all Hyundai customers it's about value and Hyundai does well here. If they jack up the price too much and lose the value benefit, it's over for Hyundai. These cars are not Lexus level quality. I think Hyundai knows this a we'll see a car that continues to offer value. The car will be beautiful and the price increase will be modest. But they better work on the quality.

 

[YEH]

^ So you complain about "quality", but yet you don't want to pay for it?

Not exactly logical.

Where the current Genesis is most lacking is in the interior - putting in a better interior, one that is up to par w/ the Germans, costs $$ (can't complain about the interior and then turn around complain about a price hike when Hyundai puts in a more luxurious interior).

And if you want customer service befitting a luxury sedan - such as guaranteed loaners, etc. - that also costs $$ (the reason why the price of the Equus is much closer to the price of the LS460 than the Genesis is to the GS is b/c Hyundai priced in the cost of luxury service in the Equus).

So the 2G Genesis w/ an interior on par w/ the rest of the segment, less weight due to greater use of more expensive weight-reduction materials and some more tech items on the base model will result in starting price around $38-39k.

That still undercuts the Lexus and Infiniti by $9-10k, more so for BMW and MB.

The addition of available AWD to the Genesis, alone, should increase sales by 50-60%.

The new Azera is selling well enough (around 800 a month) considering that there is a limited supply for the US market since the Azera, despite its size, is one of the best selling cars in Korea.

Hyundai could sell more Azeras in the US if they had more supply, but they don't which is why they only offer the Azera fully loaded (w/ no lower base trim) in the US.

The Kia Cadenza will be hitting dealer lots in a few months, so H/K will add sales in the upscale sedan market w/ that.

The following are the median household income levels for Equus owners.

Signature trim - $213,000

Ultimate trim is $285,000


And as for "quality" both the Azera and Avalon have beaten the Lexus ES in a no. of comparison tests and the new Acura RLX starts at $48,450 (does not included destination fee), which would mean that even w/ a price hike to $38k, the 2G Genesis would still be $10k less than a FWD sedan.

Add nav and the price of the RLX goes up to $50,950, add the tech package (which doesn't include the Krell sound system) and the price of the RLX goes up to $54,450, add the Krell audio system and the price goes up to $56,950.

So which one seems overpriced?

A FWD (what many see as a tarted up Accord) RLX with 310HP that costs $57k (+ destination) or a loaded 2G R-Spec which will probably go for around $50-51k? (And this doesn't factor in that the RLX already looks dull/outdated).

 

[YEH]

Let me modify the question for myself since I just bought a new 2012 Genesis with a sticker of $39,000 for $26,500;
"would I buy a new Genesis if a $12,500 rebate/discount was unavailable"?

No. I needed the extra rebate/discount to pay for the excessive depreciation that I will experience in 4-5 years.

Kind of a chicken or the egg issue.

Greater depreciation exists largely due to greater discount at time of purchase.

The reason why the Elantra is rated by ALG as being tops for depreciation within its segment is b/c on avg., the discounting is pretty low.

For 2013 models, ALG ranked Hyundai 2nd (after Honda) when it comes to residual values - but that's on the strength of Hyundai's volume sellers - the Sonata, Elantra and the new Santa Fe holding their values (due to lower incentive spending and lower fleet sales).

 

[Waki]

Absolutely NO ! Our Canadian prices are already $8,000 higher than the U.S.