Genesis has had a difficult time getting their new brand up and running, especially as their whole lineup has consisted of sedans. Last year they only managed to move 20,162 vehicles, while in comparison Cadillac managed to sell 156,440. Starting with the G70, Genesis is hoping to turn these numbers around in the coming years. Their first mid size crossover, which was previewed by the GV80 concept is expected to be followed by an entry level GV70 crossover, which will be based upon the sedan.
Genesis first crossover to launch early 2020
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I think its for this reason we are seeing Genesis trying to reorient themselves in the market, by halting production and making adjustments to their dealer infrastructure. I have a feeling that they are going to see a lot of early interest in the new G70, as it seems to pickup where the Stinger has fallen a bit short.
The Stinger has fallen prone to same kind of badge bias that many are placing on Genesis. The only real way Kia and Hyundai will get passed that is with more time on the market, where consumers can get a better idea of what long term ownership is like.
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How car makers on the rise spec their products is part of the up rising. Its why Genesis is at this current stage, we just get so much more for our money here compared to brands similar to it like lexus and acura.
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Its tough starting a premium brand from scratch, especially when most of your competitors have been around for nearly a century. With such an established consumer base and legacy, its going to be on value alone where Genesis may be able to make some ground.
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It helps that Hyundai has been around for decades and in developing markets well before entering the U.S.
So they have what brands like Tesla doesn't and that's cashflow from existing bread and butter products. At this point its a matter of the brains they can bankroll to make moves like Lexus has since entering the U.S.
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