GV70, Box Office Sensation... Over 10,000 Contracts on First Day with Excise Tax Benefits

[Asia Economy Reporter Kiho Sung] Genesis's first mid-size sport utility vehicle (SUV), the GV70, continues to create a sensation. Genesis, Hyundai Motor Company's premium brand, announced on the 23rd that the number of contracts for the GV70 exceeded 10,000 on the first day of sales, the 22nd.

Previously, the Genesis G80, which was released earlier in March, surpassed 22,000 units on its first day, and the GV80 exceeded 14,000 units on its first day.

The GV70 is the fifth vehicle among the six lineups planned by Genesis through next year and is the brand's second SUV model following the large SUV GV80 launched in January. Customer deliveries are scheduled to begin early next year.

The GV70 was unveiled simultaneously worldwide online on the 8th of this month. It features an exterior design emphasizing a dynamic image, a driver-centered interior design that dramatically embodies Genesis's unique beauty of space, and balanced power performance that provides stable driving feel and driving pleasure. Additionally, each model offers a sports package including an electronic limited-slip differential (e-LSD) and sports-exclusive wheels to highlight a dynamic image.

Along with this, the extension of the government's individual consumption tax reduction period has lowered the selling price from the originally set price. The GV70 prices start at ▲Gasoline 2.5 Turbo model 47.91 million KRW ▲Gasoline 3.5 Turbo model 57.24 million KRW ▲Diesel 2.2 model 50.36 million KRW.

The automotive industry expects that with the full-scale sales of the GV70, the domestic premium mid-size SUV market, currently at 20,000 units annually, will expand significantly.

Meanwhile, Genesis launched its brand in 2015 and, following sedan lineups such as the G90, G80, and G70, released its first SUV, the GV80, earlier this year.

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