Genesis GV80, Order Now to Receive by Year-End

If You Sign a Contract for the GV80 Now, Expect a 10-Month Wait
Hyundai Grandeur and Palisade Also Require a 5-6 Month Wait

Genesis GV80 (Photo by Genesis)

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company is unable to smile despite the successive successes of its new cars. The Palisade, released at the end of 2018, the Grandeur last year, and this year's first Genesis sports utility vehicle (SUV), the GV80, have all been hits in a row, but they have repeatedly suffered from supply shortages. Recently, the domestic production plants have come to a halt due to the impact of the novel coronavirus (Wuhan pneumonia), further hampering Hyundai's urgent progress. As a result, there are concerns that if you sign a contract for the GV80 now, delivery may not be possible until after the new year.

According to the industry on the 7th, the current time from contract to customer delivery for the Genesis GV80 is about 10 months. A representative from sales point A said, "If you sign a contract now, we are informing customers that delivery will be possible at the earliest by the end of this year," adding, "Unless there is additional production increase, contracts for this year's supply may soon be completed."

The GV80 received 15,000 contracts on the day of its launch, the 15th of last month, and surpassed 20,000 cumulative contracts within three days. This means that contracts close to the initial target of 24,000 units for this year were achieved early on. Since orders are still increasing, the waiting time may extend further.

The New Grandeur (Photo by Hyundai Motor Company)

Although not as severe as the GV80, the 'scarcity phenomenon' for the Grandeur and Palisade is also significant. A representative from sales point B explained, "Unlike other models, there has been no official notice from headquarters regarding the delivery schedule for the GV80, Palisade, and Grandeur," adding, "Depending on trim and color, vehicles ordered on the first day of pre-contracts have only started to be delivered this month. Some customers have to wait as long as about five months." It is also known that the Palisade, which had a waiting period of about a year despite two production increases last year, is still experiencing delivery delays of around six months.

The problem is that this period may lengthen due to the shutdown of domestic plants caused by the novel coronavirus situation. The representative said, "Since last week, when news of the domestic plant shutdown began to circulate, we have been receiving more than two or three inquiries daily about whether deliveries will be delayed beyond expectations," adding, "The concerns are mainly from customers who have already signed contracts rather than new customers."

However, there is also a forecast that the actual waiting period for volume models will not be significantly affected. A representative from the finished car industry said, "Supply ultimately depends on whether the Chinese plants resume operations, but once parts are secured, Hyundai can quickly secure supply by mobilizing overtime and extra shifts."

In fact, the Ulsan Plant 2, where the GV80 and Palisade are mainly produced, will halt operations only until the 10th, a day earlier than other plants. There was even speculation that this line would operate normally to strengthen GV80 promotions at one point.

This content was produced with the assistance of AI translation services.