SUVs thriving while sedans from all brands, even from Genesis are dying
Well, things are just getting sadder and sadder today. After Swedish automaker, Volvo, announced it would be ceasing production of sedans and wagons in the UK due to low sales, Korean luxury brand, Genesis has also now announced it will axe the G70 sedan from its lineup also due to low sales.
Yes, indeed it seems that the Genesis G70 sedan reportedly will not be returning for a second generation, according to Korea JoongAng Daily. The source cited weak sales as the reason for the decision. The sedan just received a refresh for the 2022 model year in the United States so this news hits even harder.
Moreover, a source told Korea Joongang Daily, “Recently, there was an official announcement within the company that it officially halted the development of RN2, a project name for the next G70.” The next-gen G70 was reportedly going to be larger than the current model and was allegedly being developed as an electric vehicle (EV).
In the U.S, the Genesis G70 is available with two powertrains, namely a turbocharged 2.0-litre four-cylinder making 252hp and 353Nm of torque as well as a twin-turbo 3.3-litre V6 making 365hp and 510Nm of torque. Both are paired to an 8-speed automatic and come standard with rear-wheel drive, with all-wheel drive as an option.
On top of that, Genesis also recently added another engine option to the G70 sedan for the South Korean market, a turbocharged 2.5-litre four-cylinder making 300hp and 422Nm of torque. The 2023 Genesis G70 starts at USD40,525 (RM184, 004) after the USD1,125 (RM5,108) destination fee for the base 2.0-litre rear-drive model.
The range-topping twin-turbo 3.3-litre version with all-wheel drive has a base price of USD48,125 (RM218,512). In 2021, Genesis introduced the G70 Shooting Brake in Europe but not in the US. It also provided a wagon alternative for folks who didn’t want the GV70 SUV but apparently even this was not enough to drive healthy sales.
While the Genesis G70 is allegedly going away, the brand doesn’t intend to give up on sedans, and Hyundai Motor Group Chief Creative Officer, Luc Donckerwolke, said in April 2023, “It’s a mistake to basically write off a typology of a vehicle. I don’t want to have a monoculture of SUVs on the street… I love SUVs from the rugged ones to the sporty ones but that’s not it.”
Sadly, Malaysia and most of the East is also headed in this direction although not really at the same rapid pace. Unfortunately, it seems inevitable even though I hope both body types continue to be sold. It is only fair considering that sedans far outsold SUVs for the better part of half a century and no one considered axing SUVs then.
We got all this from Motor 1 and their full article is linked here. Thank you Motor 1 for the information and images.
