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Is Genesis finding the UK a tough nut to crack?
Oh dear, here I am wondering why we're not seeing more Genesis cars like our GV70 on UK roads, only to find out that Genesis Motor UK has kicked the bucket. Yep, Genesis will cease to be an independent company in early 2024, at least on British soil.
Okay, that sounds more dramatic than it actually is. The company is set to merge its operations with its overlords at Hyundai UK, and the transition shouldn't have any immediate impact on current or future Genesis owners. In fact, this year we'll see Genesis partner with several dealerships to establish a franchised dealer network throughout the UK. Quite the departure from their original online-only, direct-to-customer strategy. One could speculate that ploughing money into new company operations may not have been as effective as utilising an established company like Hyundai and its physical dealership network to get butts in cars.
In an attempt to gauge public sentiment, I scoured the internet to see if this news had reached Genesis owners in the UK. Understandably, people might interpret this development as a sign that Genesis isn't off to a flying start. I mean, imagine having just spent over £58k on a GV70 like the one we have here, only to come across such headlines. Well, I couldn't find any opinions from UK owners, probably because there just aren’t that many of them. To provide some perspective, Hyundai and Genesis have sold a combined 76,644 vehicles so far this year, with Genesis accounting for 1.59 per cent of that, translating to 1,188 vehicles. Maybe I should arrange a Genesis car meet in the local Waitrose car park instead.
Anyhow, despite the corporate shift, owners can rest assured that their five-year care plan will continue. This plan includes complimentary pick-up and drop-off from your chosen location for servicing, along with a courtesy vehicle. But you have to ask yourself, once those five years are up, how will Genesis be performing in the luxury car market segment? Will current potential buyers begin to play it safe, opting for more established brands like Audi or BMW? Such caution is understandable, given the fate of other luxury brands like Infiniti, which decided to pull out of the UK market altogether.
I do hope that’s not the case because our GV70 really is a refreshing, competitively priced alternative to its established rivals. The changes Genesis is implementing now appear to be a way to streamline the business and improve its reach throughout the UK. Time will tell if it works.
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