Hyundai’s luxury brand, Genesis, sold more EVs in the US last year than Lexus and Lucid. Genesis’ EV sales nearly quadrupled in the US in 2023 as the luxury brand expands its presence.
Genesis EV sales are picking up
Genesis was one of the first legacy automakers promising to end new gas-powered vehicle sales by 2026.
The brand is quickly expanding in the US as new models roll out. Genesis EVs were available in 33 states as of October, more than double that of early 2023.
Genesis launched its first all-electric vehicle, the GV60, in the US in May 2022. It has since added the Electrified GV70 SUV and Electrified G80. The GV70 was the first EV built by Genesis (Hyundai) in the US, rolling off the assembly line almost a year ago.
The brand’s commitment is paying off. Genesis saw the highest percent sales gain among Hyundai Motor brands (including Hyundai and Kia).
Genesis sold 6,403 EVs in 2023, according to data from Cox Automotive. That’s up 283% from the 1,671 handed over in 2022.
The Genesis GV60 led the way with 3,400 models sold, followed by the Electrified GV70 (1,674) and Electrified G80 (1,329), all with at least triple-digit YOY growth.
Genesis claimed 0.5% of the market in 2023, with a 0.6% share in Q4. In the last three months of the year, Genesis sold 2,042 EVs, nearly as many as Porsche in the US with 2,358. However, Porsche only has one all-electric vehicle, the Taycan.
Hyundai Motor (including Kia and Genesis) committed to adopting Tesla’s NACS, which will enable wider charging access (and likely drive EV adoption).
The new 2024 Genesis Electrified G80 gained a cheaper Advanced trim that’s $5,380 less than last year’s model. The new trim brought the starting price down to $75,570. Genesis also dropped the price on the Prestige trim to $80,320, $630 less than the 2023 model.
H/T: InsideEVs
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