This local luxury car brand leaves Mercedes, BMW behind to reclaim Korean crown1 min read . Updated: 18 Aug 2020, 08:55 AM IST
Mercedes was miles ahead in the time period between January and July of 2019. In the same period this year, Genesis has managed to propel ahead.
In a world where the German giants are mostly always engaged in a tussle for supremacy in the luxury car markets, it would take a heroic effort to challenge their prowess, let along bring it down. And yet, Genesis has been there, done that. The luxury vehicle division of Hyundai Motor Corporation was at the pinnacle of the segment it plays in, four years back - in South Korea - before ceding ground to Mercedes.
And now, it has managed to snatch the spot back again.
According to The Korea Herald, Genesis ruled the sales chart in the country for the first time in four years by selling 60,0005 units between January and July of 2020. Mercedes was significantly behind and sold 41,583 units in this time period while BMW struggled in comparison and pushed out 29,246 units to customers.
Genesis' rise was also significant because it reported a 65% jump in sales in this time period, when compared to the same period last year. That it managed to do so when the threat from Covid-19 was looming large is a testament to its return to preference among Korean buyers. In the same time periods, Mercedes' sales here rose by 3% and that of BMW increased by 35%.
Back in 2016, Genesis had been on top and had sold 66,278 units between January and July of that year. It slipped behind Mercedes the next year and was third - behind even BMW in 2017 and 2018. In 2019, it crawled back past BMW but Mercedes was significantly ahead.
Products offerings like G80 and GV80 have managed to now catapult Genesis ahead of the pack in the premium car space even as electric vehicles continue to make their presence felt.