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Report: Hyundai Genesis lines building sales momentum, still not at original goals

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Old 11-23-10, 08:19 AM
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LexFather
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Post Report: Hyundai Genesis lines building sales momentum, still not at original goals

http://www.autoblog.com/2010/11/23/r...-not/#thankYou

Ducks and hides....

When Hyundai introduced the Genesis Sedan, the enthusiast community took notice. Then the Genesis Coupe came to the party with less luxury but with a double dose of dynamic driving characteristics. Hyundai was initially hoping that the well-received, rear drive vehicles would sell at a rate of 40,000 to 50,000 units per year, but Team Genesis hit the market just in time for the global auto market meltdown, so sales haven't exactly gone according to the script. In 2009, Hyundai sold 21,889 copies of the models, but as the market has improved, so, too, have range's fortunes.

Hyundai has already sold over 23,000 copies of its halo car twins (fraternal), with three months left in the year. That's a big jump in sales; one that has led to the Coupe and Sedan capturing year-over-year sales increases for 16 straight months. That's fairly impressive, and you can't discount that feat based on the fact that the Coupe entered the market in early 2009 when auto sales were at their bleakest. Why? Genesis sales are up 49 percent in October alone, and less marketing money has been expended than was leveraged in 2009.

And then there's the icing on the Genesis cake. Automotive Lease Guide predicts that the V8-powered Genesis Sedan will be worth 36 percent of MSRP after five years of ownership, besting the BMW 5 Series and Mercedes-Benz E-Class. So while it's true that the Genesis range still isn't selling at 50,000 units per year like company execs had originally hope, auto sales are continuing to edge upward, and Hyundai's premium offerings are on a definite upswing.
 
Old 11-23-10, 08:20 AM
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Joeb427
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and Toyota recalls and bad press definitely helped those numbers.
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Old 11-23-10, 08:25 AM
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I also think that when the Equus comes in full swing, that will translate to greater Genesis sales as well.

Reason being, a halo car such as the Equus gives even more credibility to Hyundai playing with the luxury market. When the Genesis first arrived, there was still that perception of Hyundai being just a bargain brand. Now, with the Equus and even the new Sonata, Hyundai is seen as a full fledged threat against any of its competitors.
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Old 11-23-10, 08:36 AM
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That's a balanced report. While not an immediate success I wouldn't call Genesis a failure either. The Equus will be their stretch into the great unknown.
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