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How's the Genesis selling? Hyundai's marketing VP spills the beans.

It's no secret that Hyundai's big push upmarket has come at a difficult time. With monthly sales plummeting and available loan capital shrinking, the Genesis sedan has seemingly picked an inopportune moment to roll onto America's bloodied dealership forecourts. In spite of this, the Korean automaker expects for sales to surge by 4 percent in 2009. Part of that increase will be on the back of inexpensive models like the new Elantra Touring, but the Genesis sedan will also have to carry some water for the automaker.

All of which has us wondering... how are sales of the Big Hyun going so far? Well, according to a new article by MediaPost, pretty darn well. The marketing publication interviewed the company's U.S. vice president of marketing, Joel Ewanick, and while he acknowledges the tough sales environment, he builds a pretty compelling case.

Among them: Over the past 90 days, the Genesis has sold "at or near objectives" and the company considers its performance to be "a very healthy launch." The sedan went on sale in July, and dealers have shifted 5,127 units thus far, including 1,151 last month. Ewanick notes that fully 90 percent of all Genesis buyers are originating outside of the brand, including 40 percent that "have traded in vehicles like Lexus, BMW, Mercedes, and Porsche." In addition, the Hyundai veep believes that the Genesis has helped contribute to brand-building, citing awareness and consideration figures that have jumped 25 percent in 2008 alone.

Judging by Ewanick's remarks, while the Genesis sedan may not be blowing out initial sales projections, it is performing solidly. Perhaps a down economy is exactly the right sandbox for the value-conscious Genesis to play in after all.

[Source: MediaPost]



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Discussion Starter · #3 ·

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yeah articles are good, but data, videos, photo's are even better. Audioxbliss and anyone else feel free to post anything you guys find, I always enjoy it.

Back on topic, someone pointed out to me something very interesting. Since Hyundai has reportedly sold about 5,127 Genesis, and say they sold for the base price of the V6 of $32,000 (of course some will have sold higher), that's a whopping $164,064,000! Not bad I would say! I think those Superbowl commercials paid for themselves. Hopefully the same will happen for the Genesis Coupe.



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Discussion Starter · #8 ·
Hyundai's goal were to sell like 5,000 sedans a month at least when it came out thats what there numbers were.
Lord Calvert, not to be dick, but 5,000 units/mo was not Hyundai's goal. Here's an article I pulled from our archives that you posted way back.

Lord Calvert
Administrator Join Date: Aug 2008
Location: Puyallup,Wa
Posts: 249

Hyundai Genesis: The Right Car at the Wrong Time
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Here is an interesting article about the Hyundai Genesis Sedan, what do you guys think about this? I think it's in a way true.

http://blogs.automotive.com/6287388/...ime/index.html

Anyway, if you read the article you will see this paragraph::read:

Hyundai’s near luxury model is called the Genesis. Starting price is an affordable $33,000, and buyers have the option of a V8, the first ever offered by Hyundai. Hyundai expects to sell 8,000 units this year and then it hopes to sell 20,000 units a year.

20,000 units a year is 1,666/mo



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Haha Tufast you are so passionate about Hyundai it's great.

A couple of articles I dug up real quick that seems to indicate different numbers :
Hyundai plans 50,000 Genesis sales annually in U.S., Sonata hybrid in the works - MotorAuthority - Car news, reviews, spy shots
Hyundai sets goal of 50,000 Genesis sales
Hyundai Genesis - Wikipedia, the free encyclopedia

According to those articles it seems for 2008 the goal was 50,000 but only 20,000 were to be destined for export to markets like the US, Canada and other places. So maybe Lord Calvert was thinking global sales? and if so he's partially right too.

Just a thought :)



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Discussion Starter · #10 ·

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Here is some data regarding the first few months of Genesis Sales compared to some of it's competition:



As you can see, the past few months it's out sold the Audi A6, Lexus GS & the Cadillac STS. Not too bad!
 

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I'm just waiting for the other companies to lower there prices to compete with the Genesis. In this economy its almost surely going to happen.
 

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I'm just waiting for the other companies to lower there prices to compete with the Genesis. In this economy its almost surely going to happen.
It's already happening, you can find huge discounts and rebates on cars right now because they can't sell the cars, especially the 2008s. My neighbor bought an '08 Silverado 4x4 Crew Cab loaded. Leather seats, you name it. The dealership even put on a lift kit, wheels tires and since they had the work done it's under the factory warranty. He purchased it for around $30,000. This same truck a year or two ago would have been $50,000. It's ridiculous.



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