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

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Filed under: Coupe, Sedan, Hyundai, Earnings/Financials

2010 Hyundai Genesis - Click above for high-res image gallery

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.


Gallery: 2010 Hyundai Genesis sedan



[Source: Ward's Automotive]Report: Hyundai Genesis lines building sales momentum, still not at original goals originally appeared on Autoblog on Tue, 23 Nov 2010 10:29:00 EST. Please see our terms for use of feeds.



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