Genesis, the premium brand of Hyundai Motor Group, will launch the GV90, a flagship full-size electric sport utility vehicle (SUV), in the second half of this year and will also roll out hybrid models and extended-range electric vehicles (EREVs) in succession. Analysts say the lineup expansion with new cars and hybrids could help reverse the recent slowdown in sales.
According to Hyundai Motor on the 24th, Genesis sales have been falling since last year. It posted sales of 225,189 units in 2023 and 229,532 units in 2024, but fell to 220,751 units last year.
The decline is especially noticeable in the domestic market. Genesis' domestic sales increased from 126,657 units in 2023 to 130,674 units in 2024, but dropped to 118,395 last year, down 9.4% from the previous year.
Many analysts say Genesis' recent sluggish performance stems from the aging of its key sales models.
The G80, a midsize sedan that has led growth since the brand's early days, is now six years removed from the launch of its third-generation model in 2020. The GV80, the brand's first rear-wheel-drive midsize SUV, and the GV70, a compact SUV, were released in 2020 and 2021, respectively. Although each has undergone a facelift, many said a full redesign is needed to dramatically improve design and performance.
The model Genesis is pinning hopes on this year is the newly introduced GV90. It is a luxury vehicle that will represent the brand and occupy a segment that did not previously exist.
The GV90 is a large electric SUV more than 5 meters long that has been in development since 2021. It was unveiled as a concept car named "Neolun" at the New York Auto Show in March 2024. Genesis plans to unveil the GV90 worldwide in the second half of this year. As Genesis has said the car is a flagship model packed with the latest technology, it expects it to help raise brand value in global markets and boost sales.
As early as the second half of this year, Genesis is also considering introducing hybrid versions of the G80 and GV80. Demand for hybrids has surged in global markets including Korea recently, but the lack of a hybrid model in the Genesis lineup has been cited as a weakness. The industry expects the GV70 hybrid to arrive next year.
If hybrid versions are added to the G80, GV80 and GV70, Genesis' global sales performance could improve. All three are core models that have driven Genesis' growth.
The GV80 and GV70, in particular, are popular in the United States. Genesis' U.S. sales rose each year to 69,175 units in 2023, 75,003 in 2024 and 82,331 in 2025. Last year, the combined sales of the top sellers GV70 and GV80 totaled 61,549 units. Genesis set record sales for the month by selling 5,170 units in January and 5,730 units in February in the United States.
Genesis' hybrid system is expected to be the rear-wheel-based "TMED-II." TMED-II is Hyundai Motor's next-generation hybrid system and was first applied to the new Palisade released last year. Compared with the previous TMED hybrid system, it features two motors that assist vehicle propulsion, improving fuel efficiency.
The EREV set to launch next year is also drawing attention as a model that could help improve results. An EREV drives only with a motor like an electric vehicle. That is different from a plug-in hybrid (PHEV), in which the engine and motor drive together. The internal combustion engine in an EREV is used as a generator. When the battery runs low, the engine acts as a generator to supply power to the battery. Typically, you plug the vehicle in to charge, and you also have to refuel.
To reduce weight and cost, an EREV uses a lower-capacity battery than an electric vehicle. Hyundai Motor aims to cut the Genesis EREV's battery capacity by about 30% compared with an EV. By increasing the use of the internal combustion engine, the company plans to secure a driving range of more than 900 kilometers while also boosting cost competitiveness.
A Genesis official said, "We plan to introduce EREV vehicles at lower prices than PHEV models from rival luxury brands."