Genesis car sales in the U.S. in the first quarter of 2024 amounted to 14,777 units (up 7.3% year-over-year). Hyundai's luxury arm also improved its all-electric car sales, but only slightly.
According to the data released by the broader Hyundai Motor Company, Genesis's EV sales amounted to 992 in Q1, 6% more than a year ago. It represents 6.7% of the Genesis' total volume, compared to 6.8% a year earlier.
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Genesis sells a few hundred EVs a month
In 2023, Genesis sold in the U.S. more than 6,400 all-electric cars. Increasing this number this year might be difficult.
Genesis offers three all-electric models. The Genesis Electrified G80, Genesis Electrified GV70, and the E-GMP-based Genesis GV60 (a cousin of the Hyundai Ioniq 5).
One thing in common of all three cars is that they sell only at a three-digit volume per quarter. In Q1 it was 104 G80 EVs, 415 GV70 EVs and 473 GV60s. Unfortunately for Genesis, only the Electrified GV70 noted a year-over-year growth (from a low base a year ago).
This is a bit worrying, especially when combined with the brand's global EV wholesale shipments decline in Q1 (by 53% year-over-year to 2,741).
Genesis BEV sales in Q1'2024 (YOY change):
- Genesis Electrified G80: 104 (down 73%)
- Genesis Electrified GV70: 415 (up 822% from 45)
- Genesis GV60: 473 (down 8%)
- Total: 992 (up 6%) and 6.7% share
Genesis BEV sales in the U.S. - March 2024
For reference, in 2023, Genesis sold 6,403 EVs (up 303% year-over-year), accounting for 9.3% of the brand's overall sales.
Genesis BEV sales in 2023 (YOY change):
- Genesis Electrified G80: 1,329 (new)
- Genesis Electrified GV70: 1,674 (new)
- Genesis GV60: 3,400 (up 114%)
- Total: 6,403 (up 303%)
It's hard to be optimistic for Genesis EV sales this year. There is a chance for growth, but it seems that it will not be easy in 2024.
Genesis' least expensive EV model is the GV60, which starts at an MSRP of $52,000. The Electrified GV70 starts at $66,450, but despite being locally produced, it currently does not qualify for the $7,500 federal tax credit. The incentive might be available through leasing. In the case of the Electrified G80, the base price is $74,375.
| Model | Base Price | Dest. Charge | Tax Credit | Effective Price |
| 2024 Genesis Electrified G80 AWD 19-in | $74,375 | +$1,250 | N/A | $75,625 |
| 2024 Genesis GV60 Standard RWD 19-in | $52,000 | +$1,350 | N/A | $53,350 |
| 2024 Genesis GV60 Advanced AWD 20-in | $60,550 | +$1,350 | N/A | $61,900 |
| 2024 Genesis GV60 Performance AWD 21-in | $69,550 | +$1,350 | N/A | $70,900 |
| 2024 Genesis Electrified GV70 Adv. AWD 20-in | $66,450 | +$1,350 | N/A | $67,800 |
The EPA driving range of Genesis EVs varies between 235 and 294 miles.
| Model | Drive | Battery (kWh) | EPA Range |
| 2024 Genesis Electrified G80 AWD 19-in | AWD | 87.2 | 282 mi |
| 2024 Genesis GV60 Standard RWD 19-in | RWD | 77.4 | 294 mi |
| 2024 Genesis GV60 Advanced AWD 20-in | AWD | 77.4 | 248 mi |
| 2024 Genesis GV60 Performance AWD 21-in | AWD | 77.4 | 235 mi |
| 2024 Genesis Electrified GV70 Adv. AWD 20-in | AWD | 77.4 | 236 mi |
