Genesis GV80 Prepares for North America Launch... Export Production Scheduled for Next Week

Production Expected at Around 2,000 Units per Month Starting Next Week
Brand's US Sales Performance Expected to Double

Genesis GV80 (Photo by Genesis)

[Asia Economy Reporter Kim Ji-hee] The North American export of the Genesis GV80 has come into sight. As GV80 export production begins next week, attention is focused on whether it can lead to a rebound in the Genesis brand's performance in the U.S. market.

According to industry sources on the 11th, Hyundai Motor will start producing Genesis GV80 export units at its Ulsan Plant 2 on the 14th. The production volume is about 2,000 units per month. Most of these will be shipped to North America. With production ramping up, it is expected that GV80 deliveries will be possible in the U.S. starting this fall.

The GV80 is considered the most anticipated new model among Hyundai's second-half North American market launches. It debuted domestically earlier this year and simultaneously began pre-orders early in the U.S. As of July, pre-orders in the U.S. have already exceeded 13,100 units, so a waiting period is expected for some time even after exports begin in earnest.

This GV80 launch is significant enough to be regarded as a turning point for the Genesis brand. It has been pointed out that for Genesis to establish itself as a global premium brand, it must demonstrate its presence in the U.S., the world's largest luxury car market.

Accordingly, Genesis headed to the U.S. immediately in 2016, the year after the brand's launch, but even in its fifth year of entry this year, it has yet to achieve satisfactory results. Genesis sales, which barely surpassed 20,000 units last year, have only reached 10,157 units through last month this year, especially due to the spread of the novel coronavirus disease (COVID-19).

In this situation, there are expectations that the GV80, as the brand's first sport utility vehicle (SUV), will boost sales. The lineup, composed only of sedans such as the G70, G80, and G90, has been cited as a key reason for poor performance in the U.S. market. Once GV80 deliveries begin in earnest, Genesis's U.S. sales are expected to double from current levels.

For the remainder of this year, Genesis will launch the new G80 along with the GV80 in the North American market. By next year, adding the GV70 and electric vehicles will expand the lineup to a total of six models?three sedans, two SUVs, and one electric vehicle?doubling the current lineup. An industry insider said, "Since this is the first SUV model Genesis is releasing in the U.S., where SUVs dominate, expectations are high," adding, "It is also the starting point of the Genesis brand strategy to secure a rebound momentum through SUVs and electric vehicles."

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