Genesis (Hyundai Motor Company's premium/luxury arm) is quickly increasing all-electric car sales in the United States.
According to the data, released by the broader Hyundai Motor Company, the brand's BEV retail sales in the US exceeded 500 units in each of the past four months.
In Q2 2023, Genesis sold some 1,622 all-electric cars (three models), which is a new quarterly record and 9.3 percent of the company's total volume during the period (17,465).
A year ago, the company introduced its first all-electric model (the GV60), delivering the first 233 units, which explains why the year-over-year growth of BEV sales is close to 600 percent. This year, Genesis also offers the all-electric G80 and GV70.
Genesis BEV sales in Q2 2023:
- Genesis Electrified G80: 333
- Genesis Electrified GV70: 481
- Genesis GV60: 808 (up 247%)
- Total: 1,622 (up 596% year-over-year) and 9.3% share
Genesis BEV sales in the US - June 2023
So far this year, Genesis BEV sales amounted to 2,559, which is over eight percent of the total volume.
Genesis BEV sales year-to-date:
- Genesis Electrified G80: 713
- Genesis Electrified GV70: 526
- Genesis GV60: 1,320 (up 467%)
- Total: 2,559 (up 998% year-over-year) and 8.2% share
For reference, in 2022, Genesis sold 1,590 Genesis GV60 (the other two models emerged in the stats this year).
It's expected that Genesis will continue to increase its all-electric car sales, although it's still a relatively small brand.
It will be exciting to see the progress of the locally produced Genesis Electrified GV70. For now, despite local production in Montgomery, Alabama, it's not eligible for the $7,500 federal tax credit, due to additional battery-related requirements entered into force on April 18.
According to the group's data, close to 800 all-electric GV70s were produced in the first half of the year.
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||N/A||$66,975|
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.