August Sales Fall, but Genesis Sees Reasons for Optimism
Photo: Genesis
Sales were down again for Genesis in August, but it appears that better news could be on the horizon for the premium auto brand.
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Genesis moved 1,360 units for the month, which represented a 22.6 year-over-year decline in sales. Meanwhile, losses for the first eight months of 2020 held steady at 24 percent.
The brand’s leader for the month was the G70 compact sedan. This model moved 950 units — a 6.4 decline compared to August 2019. Genesis recently announced that the G70 will get an extensive redesign for the 2022 model year.
Coming in second was the G80 sedan, which was down 58.4 percent. Only 226 units of this vehicle were sold, thanks in part to a looming model year switchover. The G90 flagship sedan sold 184 units for the month, a 7 percent year-over-year decline.
Genesis noted that the G90 has actually seen an increase in sales throughout the first two-thirds of the year.
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Photo: Genesis
“I’m thrilled with the 12.7 percent sales increase we’ve seen for the new 2020 G90 in a segment that has declined over 32 percent through July,” said Mark Del Rosso, the president and CEO of Genesis Motor North America. “This is proof positive that our Athletic Elegance design ethos is being well received by luxury consumers.”
Del Rosso pointed out that the success of the G90 bodes well for two more new Genesis models: the redesigned G80 sedan and the brand’s first ever SUV, the GV80. Both of these models are expected to go on sale in the U.S. this fall.
Thanks to the popularity of luxury SUVs, the GV80 in particular has the potential to provide Genesis with an instant boost in sales. With this possibility, and the fact that all three of the brand’s sedans will soon be available with complete redesigns, Genesis’ future holds plenty of promise.
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.