Genesis has proudly declared that it has blown past the 1 million mark in global sales. The Korean luxury brand, established in November 2015 as Hyundai’s upscale offspring, had its origins as a Hyundai concept car in 2003 before becoming a luxury four-door rear- or all-wheel drive sedan within the mainstream brand in 2008. Since 2021, they’ve been consistently adding over 200,000 to their cumulative global sales every year, and they’ve got their luxury sedans and SUVs to thank for it.
The company commenced car sales in its domestic Korean market before extending its operations to encompass North America, Europe, China, Australia, Russia, and the Middle East, totaling 17 markets. As of August 2023, Genesis announced a global cumulative sales figure of 1,008,804 vehicles. Notably, the Korean market accounted for the majority with 690,177 units, while overseas markets contributed an additional 318,627 units, pushing global sales into the six-figure range.
It’s worth noting that the brand achieved the half-million sales milestone in May 2021, highlighting its significant progress over the past two years.
More: Genesis Has Helped Hyundai Group Boost Sales And Loyalty In The U.S.
Surprisingly, the top-selling model of the Korean brand isn’t an SUV, but rather the Genesis G80 sedan, which accounts for 390,738 sales, making up 39% of the total number. This can be attributed to the fact that its first generation was introduced in 2016 as an updated version of the Hyundai Genesis, marking the inception of a distinct brand.
The brand’s two SUVs, the GV80 and GV70, have collectively achieved 173,882 and 160,965 sales, respectively, since their introductions in early and late 2020. Unfortunately, we don’t have the sales data for the GV60 electric crossover, the G70 sedan / shooting brake, or the G90 flagship, which was the first Genesis model to appear in 2015.
Genesis’s growth is evident in recent years, with sales figures surging from 132,450 in 2020 to 201,415 in 2021, and further to 215,128 in 2022. The trend is expected to continue in 2023, with a new record anticipated, given that 154,035 unites delivered have already been tallied by the end of August. This growth can be primarily attributed to the brand’s expanded product range and the increasing presence of dedicated “brand experience spaces” worldwide, which have played a pivotal role in enhancing brand visibility and competing effectively against well-established German rivals.
The next step for Genesis is the introduction of the GV80 Coupe and the facelifted GV80, both of which have been confirmed for later this year. Additionally, there is a yet-unnamed “new model in an entirely new segment” arriving in the near future, which may be referring to a sporty low-slung two-door offering or a convertible.
Genesis has pledged to become a zero-emission brand by 2030, launching only electric vehicles from 2025 on, and hoping to achieve carbon neutrality by 2035.
