How Genesis hopes to take on Lexus
Car firms are increasingly finding the idea of going premium attractive; will the latest entrant be able to make it?
Audi,
BMW and
Mercedes-Benz dominated the premium market again in 2021, accounting for 56% of global premium market sales and 20% of the total new car market in the UK.
Beyond the German trio, market analysis company Jato Dynamics lists 27 other car brands trying to match their success, including
Lexus and Genesis.
Not all have achieved success, most notably
Nissan’s premium brand,
Infiniti. It had big plans but went largely unnoticed, and while it still exists in some global markets, it’s long gone from the UK.
Nissan really wanted to take on Toyota’s luxury brand,
Lexus, which had one of its best years in the UK in 2021, selling 13,878 cars, almost 9000 of which were its latest UX and NX crossovers.
The brand, whose name comes from Luxury Export to the US, lost ground early in the 2010s, but its successful dedication to hybrids has enabled it to bounce back.
Like Toyota, Lexus is now heading into the world of fully electric cars, with Lexuses shown as part of
Toyota’s vast
16-model EV concept reveal in December.
Last year we saw the arrival of what could be the biggest threat to Lexus, though:
Hyundai’s newcomer, Genesis. Its saloons and SUVs have already impressed, and it has its first electric car coming this year.
It only really started trading in September, with its biggest seller so far being the
GV70 SUV.
Car firms are increasingly finding the idea of going premium attractive; will the latest entrant be able to make it?
www.autocar.co.uk