Genesis, the luxury car brand owned by Hyundai, has decided to remove its G70 saloon and GV80 SUV from the UK market, as well as from sale in Europe. This move comes as both models struggled to gain traction in the market, with only around 200 examples of each being sold in the UK since their launch three years ago. In comparison, BMW sold 25,000 examples of the GV80’s rival, the X5, and 67,000 of the G70-sized 3 Series.
Interestingly, the G70 was originally designed with a focus on the European market, and the G70 Shooting Brake estate variant was initially intended to be exclusive to Europe. However, Genesis may reconsider bringing these models back to the market if they decide to introduce new generations.
Genesis had previously announced plans to only launch electric vehicles (EVs) from 2025. However, the brand has since revised its strategy and will continue to develop hybrid powertrains. This suggests that there is a possibility of a new G70 and a new GV80 in the future. A spokesperson for Genesis stated that the brand remains committed to pursuing its plans and being a leader in the era of electrification but is also flexible based on market conditions and consumer demand.
Genesis has faced challenges in generating sales since its arrival in the UK in 2021. According to data from the Society of Motor Manufacturers and Traders (SMMT), the brand sold only 649 cars between January and July of this year, a 23.7% decrease compared to the same period in 2023. This decline in sales corresponded to a reduction in market share from 0.08% to 0.06%.
It’s worth noting that Genesis’s EVs have been more successful than its internal combustion engine (ICE) cars. Of the approximately 1,400 sales the brand made last year, nearly 80% were electric, and around half of those were the GV60 SUV, the brand’s first model without an ICE powertrain.
To improve its position in the UK market, Genesis merged its operations with parent company Hyundai UK last year. This allowed the brand to expand its presence by tapping into Hyundai’s larger dealer network. Genesis went from having three flagship “studio” stores to 14 sites across the country.
In conclusion, Genesis has decided to remove the G70 saloon and GV80 SUV from the UK and European markets due to their poor sales performance. However, there is a possibility that these models may return in the future if Genesis decides to introduce new generations. The brand has also revised its strategy to continue developing hybrid powertrains alongside its plans for electric vehicles. Despite facing challenges in the UK market, Genesis has seen success with its EVs, which accounted for a significant portion of its sales last year. The brand’s merger with Hyundai UK has also allowed for an expansion of its presence in the country.
