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GV60 EV - First Genesis BEV


Gurgeh

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Genesis has announced arrival later this year of its first BEV, the compact-sized GV60 EV.  No dimensions were released, but given the naming scheme it will presumably be a bit smaller than the GV70 compact crossover (in size, mid-way between the Corsair and Nautilus) said to be arriving in North America by summer. The GV70 is already out in Korea.

 

So in the course of a year, from late 2020 to late 2021, Genesis will have gone from a three-sedan lineup (G70, G80, G90) to six vehicles, with the addition of three all-new crossovers: the mid-sized GV80 (between the size of the Nautilus and Aviator), which came out late 2020; the GV70, to be here by summer; and the GV60 EV, to be here "by late 2021." A Navigator-sized GV90 remains rumored, but at this point appears uncertain, at least as an ICE vehicle.

 

In that same period, Lincoln will have gone from a lineup of six vehicles to four, and will also have canceled -- at least for now -- the large luxury BEV SUV it had planned to have out by the end of this year.

 

Following is a paywall link, with text copied below:

 

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https://www.autonews.com/nada-show/genesis-will-get-gv60-ev-late-2021-dealers-told

 

Genesis will get GV60 EV in late 2021, dealers told


The aggressive product cadence already planned for this year at luxury upstart Genesis has a new edition: The new GV60 battery-electric crossover is expected to launch by the end of 2021.

Dealers attending the NADA make meeting on Wednesday already knew Genesis was working on an electric vehicle, but the name, timing and other details had not been confirmed until then.

"Product is always top of mind for dealers, and we actually got a huge product announcement," said Peter Lanzavecchia, chairman of the Genesis National Dealer Advisory Council and owner of Genesis of Cherry Hill in Marlton, NJ.

"It was made official that our first battery-electric vehicle will be a luxury SUV called the GV60," Lanzavecchia told Automotive News . He said dealers were pleased that Genesis chose a crossover body style for its first EV rather than something closer to the Mint urban car concept from 2019.

Retailers weren't shown pictures of the GV60, but the assumption is that it will be smaller than the new gasoline-engine GV70 crossover that's expected to launch around the summer.

The EV announcement comes on top of plans for the GV70 and a freshened G70 compact sedan this year. The Korean luxury brand saw the arrival of its first crossover, the GV80, in December, meaning that over the course of this year, it will go from one crossover to three.

While dealers expressed interest in a future GV90 crossover as part of the product portfolio, executives from Hyundai Motor America and its Genesis brand did not commit to a larger gasoline SUV, the dealer council chairman said.

According to Lanzavecchia, Genesis Motor North America CEO Mark Del Rosso told dealers that "the reservation and presale process will continue for these product launches because it's going to be intentionally running lean."

That will mean keeping inventory at a level that supports transaction price

"That's great news for retailers," Lanzavecchia said. "We really have to get out of the Hyundai mindset where it's all about bulk, throughput, volume.

"We've got to protect our pricing power and protect the exclusivity of the brand."

At the same time, Genesis needs to compete on lease prices with its German and Asian luxury rivals, especially in heavy lease markets in the Northeast, in Florida and on the West Coast. Genesis made a commitment to monitor leases by market to keep the monthly payments competitive, Lanzavecchia said.

Edited by Gurgeh
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While Genesis has lately been putting out some great new product, the brand has a big problem that isn't easy to fix: it is sold almost exclusively by Hyundai dealers that often don't even have a Genesis sign on their stores. If people complain about the sometimes non-luxury experience Lincoln clients get at combined Ford-Lincoln stores, that experience is greatly magnified at Hyundai dealerships. At least Lincoln does have a fair number of Lincoln-only dealers and Ford-Lincoln dealers have much greater experience selling their luxury brand.

 

A couple of years ago Genesis tried to force Hyundai dealers to move toward Genesis-only stores in the U.S., but Hyundai dealers took Genesis to court and, thanks to state franchise laws, killed that plan. Ford dealers did the same thing to Lincoln's aggressive plan to push toward more Lincoln-exclusive stores a year or so ago, though Lincoln managed to salvage its plan in part and continues to move that direction at a more sedate pace.

Edited by Gurgeh
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5 hours ago, Gurgeh said:

A couple of years ago Genesis tried to force Hyundai dealers to move toward Genesis-only stores in the U.S., but Hyundai dealers took Genesis to court and, thanks to state franchise laws, killed that plan. 

 

Yes sir Gurgeh. The end results of that tussle between franchisees (dealers) and Hyundai Motor America were as follows.

  • Independent Genesis dealers at the time of the agreement were required to build standalone facilities per the original plan.
  • All Hyundai dealers were given the opportunity to sell Genesis vehicles. The original plan only permitted "Elite-Level" to join the Genesis retalier network.
  • Any Hyundai dealer who chose to sell and service Genesis vehicles had to sign a new franchise agreement, and also provide Genesis customers with separate sales and service areas even if they were in the same physical building as a Hyundai store.

Looks like Genesis dealers are still experiencing some hiccups for both sales and service. The brand had the lowest score among luxury brands in the 2020 J.D. Power Sales Satisfaction Index Study, and the 4th lowest score in the 2020 J.D. Power Customer Service Index Study.

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The new franchise agreements promising better and separate treatment for Genesis customers is pretty much toothless. Hyundai dealers have an apparently well deserved reputation for poor treatment of their customers, and the situation hasn't been getting noticeably better, even while the cars themselves have been getting ever-better reviews with a few top sales hits.

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1 hour ago, Gurgeh said:

The new franchise agreements promising better and separate treatment for Genesis customers is pretty much toothless. Hyundai dealers have an apparently well deserved reputation for poor treatment of their customers, and the situation hasn't been getting noticeably better, even while the cars themselves have been getting ever-better reviews with a few top sales hits.

 

There's definitely room for improvement with sales satisfaction among both Hyundai and Genesis dealerships, but especially Genesis. My local Hyundai/Genesis dealer, Hiley, wasn't bad when my family last visted them but not spectacular either. Overall, my local Ford dealer (Autonation Ford) is better.

 

Hyundai dealers had a score of 773 in 2020 J.D. Power SSI. This was slightly below the average for mass market brands of 784. Genesis dealers had the same score of 773, way below the average of 816 for luxury brands.

 

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Edited by rperez817
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