3 Genesis Models Are Stuck at the Dealership This Year
Genesis, the luxury wing of Hyundai, is cementing itself as a relatively new but strong player against the likes of more established brands like Lexus, Audi, BMW, and Mercedes-Benz. Though Genesis’ lineup features models that can rival the refinement and luxury of their counterparts while often carrying more standard features and notably lower starting prices, not all the brand’s models are finding favor with buyers. Here’s a look at three Genesis models struggling to find buyers.
The Genesis G90 is struggling in a shrinking market
The Genesis G90 is the automaker’s foray into the full-sized luxury sedan market, where it must compete with venerable powerhouses like the Mercedes-Benz S-Class, BMW 7 Series, Audi A8, and Lexus LS. The G90’s role as Genesis’ flagship sedan carries significant weight, and the model delivers the kind of experience expected of such extravagant land barges.
The G90 delivers supremely supple ride quality, sporting handsome exterior styling and an upmarket and sizeable cabin. It is loaded with features and starts at $90,100, a fairly respectable price point for its class and the amenities and performance it offers.
Car and Driver ranks the G90, which has been refreshed for 2023, only lower than the iconoclast S-Class among full-sized luxury sedans. However, the G90’s strong performance, both on paper and on the road, hasn’t led to many sales.
According to GoodCarBadCar, just 113 G90 units were sold through the first five months of the year, representing a 5% increase over 2022 annual sales through May. While the decline in popularity of full-size sedans versus SUVs and the G90’s steep base price could be at play, Mercedes sold about 1,000 S-Class models a month through the first quarter of the year. It also achieved that number with a more expensive price tag, with the S-Class starting at nearly $115,000.
The midsized G80 isn’t faring much better
A somewhat similar story can be told for the midsize Genesis G80. Car and Driver ranks the G80 higher than venerable players in the segment, like the Mercedes-Benz E-Class, Audi A7, and BMW 5 Series overall. However, positive reviews for the G80 and its strong value prospects against the competition haven’t resulted in surging sales.
Through the beginning of May, 882 G80 models have been sold for 2023, which is on par with the sedan’s annual sales for 2022. Yet, for reference, Lexus sold 3,554 ES models in May 2023 alone.
The Genesis GV60 all-electric SUV attempts to court buyers
The GV60 is Genesis’ first foray into the all-electric SUV space with a designated EV platform. The GV60 sports unique styling, impressively quick charge times, a choice of electric drivetrains with up to 429 horsepower on tap, and a rich list of luxe features. Edmunds calls the GV60 “simply one of the best EVs on sale,” but it is still apparently establishing itself among buyers as it debuts for the 2023 model year.
Genesis sold 1,055 GV60 models through May. Of course, not all are ready to make the electrification switch, but one problem for the GV60’s sales could be its corporate cousins, the Hyundai Ioniq 5 and Kia EV6.
The Genesis GV60 is, of course, more luxe than its counterparts. Still, the EV6 and Ioniq 5 both offer a refined quality in their upper trims, longer driving ranges, and even their most upscale trims cost several thousand dollars less than a base GV60. Those wanting more power can also opt for the EV6 GT, which pumps out nearly 150 more horsepower than the top-spec GV60 and costs about the same as the standard Genesis model. Through May, the Ioniq 5 is outselling the GV60 by a ratio of about 10-to-1, while about 6,000 more EV6 models have also been sold.