US: Genesis BEV Sales Reached New Record In March And Q1 2023

The company reports the first sales of the Genesis Electrified GV70.

2023 Genesis Electrified GV70

Mark Kane

By: Mark Kane

Apr 16, 2023 at 10:19am ET

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Genesis has noticeably increased all-electric car sales in the United States this year, and the perspective for further growth is promising.

Let's recall that the brand (Hyundai Motor Company's premium/luxury arm) launched its first all-electric model in the US - the Genesis GV60, less than a year ago. Now, it offers three all-electric cars, including one produced locally (the Genesis Electrified GV70).

According to the data released by the broader Hyundai Motor Company, in March, Genesis sold 572 electric cars, which is a new monthly record.

This includes a record number of 315 Genesis Electrified G80, 212 Genesis GV60 and the first 45 Genesis Electrified GV70.

Genesis BEV sales in the US - March 2023

During the first quarter of 2023, Genesis BEV sales amounted to 937 - more than in any previous quarter.

Genesis BEV sales year-to-date:

Genesis Electrified G80: 380
Genesis Electrified GV70: 45
Genesis GV60: 512
Total: 937

For reference, in 2022, Genesis sold 1,590 Genesis GV60 (the other two models emerged in the stats this year).

Perspectives that sales will further increase are good. The most important element is the local production of the Genesis Electrified GV70 (in Montgomery, Alabama), which makes it eligible for the $7,500 federal tax credit. Eligibility for the incentive has been confirmed, but it might change in the future due to additional requirements.

The South Korean manufacturer reports that nearly 200 Genesis Electrified GV70 left the plant in March, including two first for export.

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Here is the list of Genesis BEVs available in the US:

Model Base Price Dest. Charge Tax Credit Effective Price 2023 Genesis Electrified G80 AWD 19-inch $79,825 +$1,095 N/A $80,920 2023 Genesis GV60 Advanced AWD 20-inch $59,290 +$1,125 N/A $60,415 2023 Genesis GV60 Performance AWD 21-inch $68,290 +$1,125 N/A $69,415 2023 Genesis Electrified GV70 Advanced AWD 20-inch $65,850 +$1,125 $7,500 $59,475

In the long term, Genesis will become a zero-emission brand, with only electric cars in its lineup. According to the plan, we should expect a 100% all-electric lineup by 2030.