Genesis should hit a sales milestone for the first time in Australia during 2022.
The luxury offshoot of Hyundai is on track to sell more than 1000 cars in Australia during 2022, having debuted as a standalone brand Down Under in 2019.
It has delivered 755 cars to date this year, an increase on 2021 (734 sales), 2020 (229 sales), and 2019 (103 sales).
“We’re fairly confident we would exceed [1000 sales] by the end of the year,” Genesis Australia boss Connal Yan told CarExpert.
“Of course, everything is subject to arrival of vehicles – supply, and all this. Under normal circumstances we do see [Genesis] exceeding that quantity by the end of this year. Strictly speaking, in terms of real demand where people come in and place deposits, we’re way above it.”
The brand’s range has grown significantly in 2021 and 2022. Along with a trio of electric vehicles, it’s welcomed the GV70 mid-sized SUV to Australian showrooms to compete with the Mercedes-Benz GLC, BMW X3, and Audi Q5.
Mr Yan said Genesis buyers are coming from a range of brands, from established German luxury players to their more niche alternatives, such as Jaguar and Alfa Romeo.
Genesis has previously said it’s targeting a 10 per cent share in the local luxury market.
Despite acknowledging the fact Genesis is actively trying to grow its volume, Mr Yan wouldn’t be drawn on when the brand is expected to reach that ambitious goal.
“We have the luxury that we never really need to place a lot of focus on volume which is, honestly speaking, not always the case in automotive, because at the end of the day as a brand, if you don’t sell you don’t survive,” Mr Yan told CarExpert
“We are in a very privileged situation where we are always focusing on building up the brand, building up the fundamentals, trying to improve on the customer experience.
“Coming back to the volume, first of all I think we’re happy with what we’re selling, what we’re delivering. We’re happy with the orders that we’re taking. To a certain extent, I would say it has exceeded the expectation as well.
“Since we launched, we have now in three years time become the fastest-growing luxury brand,” he said.
Based on its sales to date in 2022, Genesis is sitting ahead of more established rivals such as Jaguar (615 sales) and Alfa Romeo (443 sales).
The current luxury leader in Australia is Mercedes-Benz with 21,561 sales, ahead of BMW with 18,186 sales, and Audi with 10,529.