Australian CEO delineates the future of Genesis as it moves to become an all-electric luxury brand
GENESIS says its growing range of electric models – and brand-specific development and styling – has presented it with the opportunity to be viewed differently by tech-savvy Australian luxury car buyers.
Speaking to GoAuto at the launch of the all-new Electrified GV60 and Electrified G80 in Melbourne this week, Genesis Australia CEO Connel Yan told GoAuto the brand was in a unique position to benefit from the foundations laid by Hyundai Motor Company Australia (HMCA), offering customers a level of assurance it believes augers well for the marque’s all-electric future.
“We see the launch of these three products as a solid beginning for us to enter the electrified era – and it’s a very good opportunity timing wise for us to strengthen our brand position locally,” said Mr Yan.
“We definitely see more opportunities to better position ourselves as a luxury EV brand. We proactively chose not to mention our parent company at events like this because we are very confident that, if you look at the products and how they are designed, that it’s no longer as simple as saying they are an upmarket Hyundai, and to stop there.
“And while we’re not too conscious about separating (the brands), we want to be proud of our own heritage, because we believe, especially in Australia, that we have done a tremendous job – and so much of that is because of the strong foundation built by our Hyundai colleagues.
“This foundation has given our customers a very positive impression of Korean vehicles. I think if we were to enter the market today without that foundation, that things would be very different and a lot more challenging … especially as we are attracting customers in fundamentally different segments.”
Mr Yan said luxury car buyers – especially those closely analysing the arrival of electrified models in the Australian market – were cognisant of not only the need for high-priced models to offer a unique selling proposition, but for that brand to be backed by the security of an established parent.
“To date, the feedback we have gathered from our customers is very positive. They understand our DNA, and that we are taking our own path into the luxury space. I don’t think there are any other players that can fit into this space better than us. We want to be differentiated, and I think the models we have implemented and introduced are doing that,” he said.
“A luxury, EV brand is what we aspire to be. So people in the luxury space rank us as one of their top choices knowing that we are striving to be one of the top players in the luxury space. I think they also understand that over the next five years the market will be a lot more electrified than today, which is why it is important that we define ourselves within that space now.”
Mr Yan told GoAuto that Genesis customers were keeping a close watch over competition in the space and said the brand would continue to grow not only the technology, design, and luxury offered from its electrified models, but also the customer experience.
In spite of a willingness to grow the brand’s sales numbers as more competition arrives in the market, Mr Yan said it was important Genesis did not move too fast and adhered to its “customer-first” focus.
“There are pros and cons to competing with long-established brands. For us, it’s about how you communicate yourself to your customers, and about how the brand is transforming. We have to be able to convince customers that we are turning our eyes towards becoming a very successful luxury EV brand, which is a challenge, because we already have a brand presence in the ICE market, which itself started only a relatively short time ago.
“But in shifting into the EV era, I think there are elements of that shorter time frame (in the market) that offer us a big advantage. We’re more easily able to define our path than many long-established brands, particularly in terms of our aftersales network and level of customer support.
“We are still young and small, so therefore we are nimbler – we can react faster to market,” he said.
Mr Yan explained that Genesis would not be swayed to merge its standalone sales model with the Hyundai brand in the same way Lexus had with Toyota. He said the current Genesis Studio network and Genesis To You servicing program were a key part of differentiating Genesis from other players, and that the current arrangement would offer adequate capacity for the brand’s sales projections moving forward.
“We don’t underestimate the challenges of conquesting customers to the brand, and while we have enormous respect for our competition – and while we certainly don’t underestimate our competition – we also know that customers are very focused on the range of benefits we offer as a brand,” he said.
“It is also true of our one price, no haggling sales experience. The direct model we run encompasses ongoing updates, the longest warranty, the longest complimentary servicing program, and our customers tell us that they really value that – so I believe this is what we’re going to stick with going forward.
“We have room to expand, be we’d rather not be rushed into expanding outwards and risk being able to provide the level of service we want to provide. Yes, we are still learning and improving, but we are happy to say that we are meeting the objectives we have set.”
Keyword: EV models to redefine Genesis locally