How Genesis is following its own path in Europe
Genesis, Hyundai’s premium brand, is poised to launch in Europe. It hopes to follow in Lexus’s footsteps but will strike its own way
Genesis, Hyundai’s premium brand, isn’t strictly new to the UK. The Hyundai Genesis executive saloon arrived in 2015 as a BMW 5 Series and Mercedes-Benz E-Class rival. When it was axed from Hyundai’s UK line-up in 2017, only 50 had been sold in the market.
Yet just four years later, Genesis is back – and it’s now a full stand-alone premium brand, Hyundai Motor Group’s intended rival to Audi, BMW and Mercedes-Benz. It’s a brazenly ambitious undertaking, and not just because of the history of that earlier Genesis saloon. Introducing a premium brand in Europe is a hugely tough task. The best-case scenario would be something similar to Toyota’s Lexus brand, which has taken considerable investment and decades of patience to become fully established in the UK, with sales still dwarfed by those of European rivals. The worst-case scenario? Infiniti, Nissan’s premium offshoot that finally gave up on Europe in 2019.
Genesis bosses are well aware of the task they’re facing. Tyrone Johnson, Genesis Europe’s vehicle development chief, says launching in the region will be “our greatest challenge”. Dominique Boesch, its Europe boss, calls the region the “spiritual home of the premium car market”. But he says: “We believe we have the ingredients to stand out.
The returns are encouraging: the brand sold around 130,000 cars worldwide last year, although the vast bulk were in South Korea. Growth has been patchier in the US, but the arrival of the GV80 SUV has given a huge boost to sales this year (seemingly helped by inadvertent publicity from Tiger Woods’s accident in one during a golf event the brand sponsored). And the higher margins of Genesis models relative to Hyundais has been reflected in increased revenues for the group.
Genesis, Hyundai’s premium brand, is poised to launch in Europe. It hopes to follow in Lexus’s footsteps but will strike its own way
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