Genesis G90 aims for 8% market share in global high-end car market

Hyundai Motor Group released the fully revamped flagship luxury sedan “Genesis G90” by declaring its goal to sell 20,000 units. Building up on its good sales record last year centering around the U.S. market, the South Korean carmaker is determined to occupy more than eight percent of the world’s largest luxury sedan market.

The Genesis 90 is on display at Genesis Suji in Gyeonggi Province, South Korea, or the showroom exclusive to the Genesis fragment from this Friday to next Sunday, according to Hyundai Motor on Thursday. This model with a length of 5,275 millimeters and a width of 1,930 millimeters is fully equipped with a wide range of cutting-edge technologies. For example, all you need to open a door is to press a button. A footboard at the backseat automatically slides down when a passenger’s seat is empty.

It features seamless driving even with low RPM thanks to the Gasoline 3.5 Turbo Engine and the powertrain of 380 horsepower with the 8-speed A8TR1 automatic transmission. Hyundai Motor Groups’ Genesis CEO Chang Jae-hoon assessed the G90 as an ultimate flagship sedan that shows where the Genesis is headed. 　

This year will turn into a milestone to prove whether the Genesis can strengthen its position as a global premium brand. According to Hyundai Motor, last year’s sales of Genesis reached the 200,000-unit threshold for the first time (201,415 units). In particular, it sold 49,621 units last year, more than triple than 2020’s record of 16,384 units in the U.S. market. Such a significant sales increase is presumably attributable to a high-profile accident where the GV80 with U.S. golfer Tiger Woods at the steering wheel was overturned but left him slightly injured. 　

Nevertheless, it is one of the biggest challenges for Hyundai Motor Group to promote the Genesis lineup successfully in China where the carmaker’s overall market shares have only decreased recently. Chinese car buyers of the luxury car fragment are loyal to German premium brands. Given that such high psychological barriers in the mind of target customers stand tall in front of the South Korean brand in the Chinese market, Hyundai needs to differentiate from its competitors based on technological prowess and quality service.

To this end, the G90 is expected to impress Chinese car buyers with the premium image of the Genesis with four cities including Shanghai and Chengdu set up as sales hubs in the Chinese market.

“The G90 will sell 20,000 units globally a year while the Genesis lineup as a whole expects a yearly sale of 220,000 units,” CEO Chang said.


Jae-Hyeng Kim monami@donga.com