FOUNTAIN VALLEY, Calif., Jan. 26, 2018 – Today, Hyundai Motor America and Genesis Motor America informed existing Hyundai dealers that offers would be forthcoming soon to pave the way to establishing a distinct and properly-sized Genesis retail network. Additionally, certain dealers who are parties to the Genesis Participation Agreement (GPA), currently doing business in defined key markets, will be given the first opportunity to apply for the Genesis franchise. Applications are expected to be received within a specified timeframe and the Genesis retailer selection process will begin concurrently.
Throughout the remainder of 2018, Genesis will build the network to around 100 retailers covering all of Genesis’ defined key luxury markets. While initially the new network will conduct business from temporary and/or shared facilities, over the next three years new Genesis standalone facilities will be constructed to further enhance the overall ownership experience.
“At Genesis, we believe in putting our customers first and giving them a proper ownership experience,” said Erwin Raphael, General Manager of Genesis Motor America. “To ensure that happens, we need to take this next step in the separation of the Genesis brand from our parent company.”
“Establishing a right-sized Genesis retailer network, as our product portfolio grows, will ensure the Genesis brand can succeed and thrive long-term within the luxury automotive market,” Raphael said.
In 2017, Genesis Motor America reported year-to-date sales of 20,594 G80, G80 Sport and G90 vehicles. In the last year, the Genesis brand and products were awarded 14 significant awards and accolades by leading third parties. Among them:
- Genesis was named the highest ranking premium nameplate for Initial Quality and 2nd highest premium nameplate in product APEAL by J.D. Power.
- The G80 won a Residual Value Award from ALG.
- Strategic Vision bestowed upon the G90 Total Quality and Most Loved Luxury Car awards.
- AutoPacific named the G90 both the Top Vehicle in their New Vehicle Satisfaction Awards as well as the Top Luxury Car in 2017 in their Ideal Vehicle Awards.
- The G80 and G90 were also recognized by the Insurance Institute for Highway Safety (IIHS) as Top Safety Pick+ recipients in their respective categories.