Luxury Brand Genesis Sees Surge in Electric Car Sales
Genesis, the luxury branch of the Hyundai Motor Company, is making waves in the United States with its electric cars, achieving remarkable new milestones.
In September, Genesis sold a total of 682 battery electric vehicles (BEVs) in the US, marking a new monthly record and a 243 percent increase from the previous year. These all-electric cars made up over 10 percent of the brand’s total sales.
For the entire third quarter of this year, Genesis sold 1,802 electric cars in the US, a remarkable 123 percent increase from the same period last year and a new quarterly record. Overall, Genesis’s total sales also saw an increase, reaching 19,427 in the third quarter, which is nearly 28 percent higher than the previous year.
When it comes to specific models, the most popular electric vehicle is the Genesis GV60, which is built on the E-GMP platform. During Q3, it saw nearly 900 sales, an 11 percent increase year-over-year. The Genesis Electrified G80 and Genesis Electrified GV70 also contributed with 471 and 433 units sold, respectively.
Year-to-date, Genesis has sold 4,361 BEVs, which represents 8.6 percent of their total sales volume. Notably, this year saw the introduction of the Genesis Electrified G80 and Genesis Electrified GV70, with the GV60 model leading the pack in terms of sales.
With these numbers in mind, it’s possible that Genesis will surpass 6,000 all-electric car sales by the end of the year and continue its electric vehicle push into 2024. The brand has even more ambitious plans, aiming for a 100 percent all-electric lineup by 2030.
Understanding Genesis’s sales figures also allows us to calculate the total E-GMP electric vehicle sales by the broader Hyundai Motor Group. So far this year, the group has sold 33,624 Ioniq 5 and Ioniq 6 units, 14,798 Kia EV6s, and 2,218 Genesis GV60s, bringing the total to 50,640 during the first nine months of the year.