Fast-growing premium brand Genesis is on a mission to steal sales from other upmarket brands, but also usher people into its models from mainstream brands.
The Hyundai Group’s premium marque is still a relatively new entity in Australia, but it plans to increase its presence and sales, without being overly aggressive.
Currently Genesis has a line-up consisting of two sedans – the G70 and G80 – and three SUVs that includes the GV70, GV80 and the recent addition of the GV60 – its first dedicated electric vehicle.
More models are on the way, including six EVs by 2030, which is when Genesis is expected to be an electric-only marque.
Sales in Australia are still low compared with other more established premium brands, but brand awareness and a targeted approach to gaining customers is paying off.
To the end of August this year, Genesis has sold 641 vehicles in Australia, which is a 63.5 per cent increase over the same period in 2021.
The bulk of that volume has come from the GV70 medium SUV, which has found 350 homes so far this year. The larger GV80 has 164 registrations, while the G70 and G80 sedans are on 60 and 55 units respectively.
Interestingly, for such a young brand, Genesis is currently outselling established marques like Alfa Romeo (385 year-to-date) and Jaguar (557 YTD).
Speaking with CarsGuide at the recent GV60 and Electrified G80 launch, head of Genesis Australia Connal Yan said buyers were coming to Genesis from a few different backgrounds, including people who are stepping up into premium territory from mainstream offerings like Kia and Hyundai.
“There’s definitely mainstream mass brand upgrade, especially people who have had a good experience with Korean products. Which is very good as it saves us a lot of explanation of how good the product could be – the durability, the quality and then when you touch and feel the car and drive them, you know the extra luxuriousness and functions.
“Secondly, there’s niche luxury buyers, for example, Alfa Romeo, Jaguar. People who could afford a Mercedes or BMW, but they do not want to be the mass. And definitely those people would look at us and say ‘okay, this is interesting, let’s give it a try.’”
Mr Yan acknowledged that the German big three – Audi, BMW and Mercedes-Benz – were naturally in the brand’s crosshairs, and said Genesis had captured some buyers from the top Europeans.
“It’s not easy to be honest because it’s very brand oriented, as you can imagine. But still, we’re very lucky to have very strong product so as long as we can convince them to sit in the car, we have a very good chance.”
He added that Genesis has even managed to lure buyers who usually purchase models from ultra high-end brands like Ferrari, Bentley and Aston Martin.
When asked what success looks like for Genesis in Australia, Mr Yan said it is a combination of factors, rather than outright sales volume, although he admitted that was important.
“You definitely need sales, otherwise you’re not sustainable. Definitely a premium luxury, brand image, especially linked with EV, which is why we sort of relaunched the brand last week with the customer event with the launch of these three cars [GV60, Electrified GV70 and G80]. It was the perfect opportunity for us. Definitely, customer experience is something that we highly value.”
As well as personalised service at the Genesis Stores and showrooms, that customer experience includes a convenient servicing arrangement. If a Genesis customer lives within 70km of a Genesis Studio or showroom, they will have access to the Genesis Concierge Service, which will pick-up and return their vehicle for a service, and provide them with a complimentary courtesy car.
There are two dedicated Genesis Studios located in the CBDs of Melbourne and Sydney, as well as five Genesis showrooms (previously referred to as test drive centres) located in Parramatta, Gold Coast, Perth, Brisbane and Prahran – the latter two are set to open soon.
A Genesis spokesperson said the company is in the process of fitting out the showrooms ahead of a potential expansion down the track, however there are no plans to add to the two Studios.
Keyword: How Genesis is targeting Kia and Hyundai buyers to become a genuine rival for BMW and Mercedes-Benz