Hyundai Motor Co. has announced a major milestone for its luxury Genesis brand, with cumulative sales surpassing the 1 million mark as of August. This accomplishment comes nearly eight years after the brand’s inception in November 2015, demonstrating the strong appeal of Hyundai’s premium offering in a competitive global auto industry.
The South Korean automaker has seen robust demand for Genesis models both domestically and abroad, according to company data. Hyundai has sold 690,177 units in the domestic market and an impressive 318,627 units internationally. The brand’s popularity has been on a steady rise, with annual sales hitting a record 132,450 units in 2020 and growing further to 215,128 units in 2022.
Hyundai’s Genesis Brand Hits Million-Mark Global Sales
Hyundai Motor Co. has announced that the total sales of its luxury Genesis brand have crossed the million-mark as of August, a feat achieved approximately eight years since the brand’s debut.
Strong Domestic and Overseas Performance
The South Korean automaker reported selling 690,177 units in the domestic market, bolstered by an additional 318,627 units in overseas markets, based on the company’s data. Hyundai’s luxury brand, Genesis, first introduced in November 2015, has been steadily gaining momentum. As recently as May 2021, the cumulative sales reached the half-million milestone.
Record-Breaking Sales
In 2020, Genesis set a new annual sales record by breaking the 100,000 threshold, tallying a total of 132,450 units sold. This growth trajectory continued into 2022, with sales soaring to 215,128 units. Hyundai has started 2023 on a strong note, selling 154,035 units of Genesis vehicles in the January-August period.
G80 Sedan Leads the Pack
The G80 sedan, launched in 2016, has emerged as the star performer with combined sales of 390,738 units, making it the most popular model in the Genesis line-up. Hyundai currently offers a diverse range of vehicles under the Genesis brand, including five sedans, two sport utility vehicles, and three electric vehicles.
Takeaways
Hyundai’s Genesis brand has demonstrated remarkable growth, hitting the one million sales milestone in just eight years. The strong performance both domestically and overseas reflects the brand’s appeal and the increasing demand for luxury vehicles. The success of the G80 sedan indicates a preference for high-end sedans in the market. As Hyundai expands its Genesis lineup, especially with more electric vehicles, it can potentially attract a broader consumer base and sustain its growth momentum. The brand’s success is a testament to Hyundai’s strategic diversification into the luxury vehicle market.
