Genesis Sells 10,000 New Premium SUVs on 1st Day
25 December, 2020
Genesis sold 10,000 new GV70 SUVs on the first day time they hit showrooms on Tuesday. The record currently surpasses 20 percent of the sales target of 44,000 cars for next year.
The domestic market for premium mid-sized SUVs is merely estimated at 20,000 cars a year, however the GV70 ate up half of this in just one day.
Mercedes Benz sold about 5,700 GLCs, which are thought to be the GV70's main rival, from January to November this season, and BMW sold around 3,000 X3 SUVs.
One reason is that the GV70 is cheaper at W47.91 million for the gasoline-fueled model, although price rises to W75 million with full options to rival superior imports (US$1=W1,107). But different attractions will be the cutting-edge features and generating performance.
No-one had expected it to take action well since a large Palisade SUV costs the same. Hyundai's premium manufacturer has had a banner yr by rolling out the GV80 large SUV and G80 large sedan to superb acclaim as well.
The GV80, which hit showrooms in January, racked up sales of 15,000 cars on the first day time and had sold 30,745 by November. The G80 struck showrooms in-may and sales have stood at between 6,000 to 7,000 per month. The strong performance offers helped Genesis beat both Mercedes-Benz and BMW to rank 1st in the Korean high grade market.
Meanwhile, Hyundai's mid-sized Sonata sedan, which once reigned supreme found in Korea, is normally losing its luster. Sales have been therefore poor that Sonata assembly lines at its Asan plant have already been turn off temporarily from Wednesday until Jan. 6 of next calendar year as the automaker depletes mounting inventory.
Sonata sales found in the first 11 months of this year reached only 63,078, straight down 31 percent on-season. The large Grandeur sedan seems to be replacing the Sonata, selling over 10,000 since March and well coming to turning out to be the bestseller here this season.
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