Genesis March Sales Show Impact of COVID-19
In a sign of the economic disruption triggered by the COVID-19 pandemic, Genesis Motor America reported a steep decrease in sales for March.
For the month, Genesis sold 969 units. That’s a decline of more than 33 percent compared to the 1,450 vehicles that Genesis sold in March 2019.
Before March, Genesis was on pace to record a strong quarterly sales increase. However, the slowdown caused by the spread of the COVID-19 virus halted this rise.
For the first quarter of 2020, Genesis sold 3,955 vehicles, down 5.9 percent from the 4,202 it sold over the same period in 2019.
“The first quarter of 2020 has been both a thrill and a challenge for a number of reasons,” said Mark Del Rosso, the president and CEO of Genesis Motor North America. “If you were to ask me a month ago, my words would be full of broad vision, moving toward our promising future. However, today, as our entire industry suffers, from factory workers to those who run the dealerships and our service departments, we re-focus on comfort, humanity, and leadership.”
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At the individual model level, the G70 compact sedan was Genesis’ bestseller for the month and the quarter. It sold 517 units in March, a 36.7 percent decrease. For the quarter, sales were at 2,074, down 7 percent.
The G80 sedan sold 284 units in March for a decrease of 40.2 percent. For the quarter, it was down 19.2 percent with 1,197 sold.
Boosted by the recent introduction of an all-new generation, the G90 sedan notched 168 sales for the month for a 5.7 percent increase. For the quarter, it was up 39.6 percent with 684 units sold.
In what should provide a welcome sales boost, Genesis will introduce a couple of fresh models later this year.
“The Genesis team is determined to get through these devastating times, and looks forward to returning to some semblance of normalcy and (launching) our two stellar new products, the all-new G80 luxury sedan and our first-ever SUV — the GV80,” Del Rosso said.
The GV80 is expected to go on sale this summer, while the redesigned G80 should arrive sometime during the second half of 2020.
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A longtime editor/writer and recently transplanted Hoosier, Caleb Cook lives in Xenia, Ohio. His favorite activities are reading and listening to music, although he occasionally emerges from the heap of books and vinyl records in his basement to stand blinking in the sunlight. Once fully acclimated to the outside world again, he can be observed hanging out with his wife, attempting a new recipe in the kitchen, attending movies, walking the dog, or wandering into a local brewery to inquire about what’s on tap. See more articles by Caleb.