Some Luxury Buyers Downshift to Hyundai Genesis
Lexus Fanatic
Joined: Dec 2007
Posts: 6,101
Likes: 2
From: Candyland
Thanks for posting these sales numbers, I was about to look these up!!
Guest
Posts: n/a
Lets also add more to the whole picture
1. Fleet sales, how many are for the Genesis?
2. Lease program, they now have a $329-$399 a month lease deal going on
3. Hyundai Assurance program clearly is helping sell the car for those that want a nice car but are scared of losing their job.
Its a superb car I like it a lot but I don't fully buy people just dumping their luxury brands for it yet.
1. Fleet sales, how many are for the Genesis?
2. Lease program, they now have a $329-$399 a month lease deal going on
3. Hyundai Assurance program clearly is helping sell the car for those that want a nice car but are scared of losing their job.
Its a superb car I like it a lot but I don't fully buy people just dumping their luxury brands for it yet.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,628
Likes: 280
From: Virginia/D.C. suburbs
Well, money talks. Apparantly some buyers feel that they can have their cake and eat it, too....a nice luxury or semi-luxury sedan and keep some money in their pockets.....the extra $$$$$ they would have spent on a new Lexus, BMW, Mercedes, Audi, Infiniti, Cadillac, or Lincoln instead. However, having reviewed a Genesis sedan, I'll be honest. Like you, I think it is a great car for the money, but it, of course, lacks the BMW's steering/chassis (but the Genesis Coupe 3.8 track doesn't). It also, to an extent, lacks the super-strong Mercedes frame/safety features, superb Audi Quattro AWD system, or the Lexus overall refinement. But, for the money, it is obviously attracting a lot of people, considering the economy and the recession.
Lexus Test Driver
Joined: Oct 2007
Posts: 975
Likes: 6
From: CA
I have a hard time believing that someone who could previously afford a 100k+ Aston Martin would trade it in for a Genesis, unless that Aston Martin was in really bad shape and really old he should have been able to get 2, or 1 plus a Sonata.
I could see people going from like a E/5/GS/A6 to a Genesis, but anything beyond that seems like a bit of a stretch, considering they don't mention MY's I'm guessing all the cars that were traded in were 10+ years old.
I could see people going from like a E/5/GS/A6 to a Genesis, but anything beyond that seems like a bit of a stretch, considering they don't mention MY's I'm guessing all the cars that were traded in were 10+ years old.
Lexus Test Driver
Joined: Oct 2007
Posts: 975
Likes: 6
From: CA
Well, money talks. Apparantly some buyers feel that they can have their cake and eat it, too....a nice luxury or semi-luxury sedan and keep some money in their pockets.....the extra $$$$$ they would have spent on a new Lexus, BMW, Mercedes, Audi, Infiniti, Cadillac, or Lincoln instead. However, having reviewed a Genesis sedan, I'll be honest. Like you, I think it is a great car for the money, but it, of course, lacks the BMW's steering/chassis (but the Genesis Coupe 3.8 track doesn't). It also, to an extent, lacks the super-strong Mercedes frame/safety features, superb Audi Quattro AWD system, or the Lexus overall refinement. But, for the money, it is obviously attracting a lot of people, considering the economy and the recession.
Lexus Fanatic
Joined: Jul 2001
Posts: 6,084
Likes: 0
From: California
I wonder how many of these Genesis owners would keep their cars in a few years and how many would replace it with another Hyundai. By the way, why do the sedan and coupe share the same name? You don't see any other coupe/sedan combo from the other automakers look so different from each other. Accord, Civic, 3-series, G37, Altima, Cobalt, Yaris, all of these share most of their design between coupe and sedan. Is Genesis a brand or a single model?
Lexus Fanatic
Joined: Oct 2003
Posts: 94,628
Likes: 280
From: Virginia/D.C. suburbs
By the way, why do the sedan and coupe share the same name? You don't see any other coupe/sedan combo from the other automakers look so different from each other. Accord, Civic, 3-series, G37, Altima, Cobalt, Yaris, all of these share most of their design between coupe and sedan. Is Genesis a brand or a single model?
executive matchup
Joined: Apr 2008
Posts: 5,771
Likes: 13
From: BC
I have a hard time believing that someone who could previously afford a 100k+ Aston Martin would trade it in for a Genesis, unless that Aston Martin was in really bad shape and really old he should have been able to get 2, or 1 plus a Sonata.
I could see people going from like a E/5/GS/A6 to a Genesis, but anything beyond that seems like a bit of a stretch, considering they don't mention MY's I'm guessing all the cars that were traded in were 10+ years old.
I could see people going from like a E/5/GS/A6 to a Genesis, but anything beyond that seems like a bit of a stretch, considering they don't mention MY's I'm guessing all the cars that were traded in were 10+ years old.
off topic but...imho, it is not wrong to enjoy the fruit of your hard work; if you make enough money to afford a luxury car, you should not feel pressured to buy down from a luxury brand (insert name here) to a genesis.
if a person buys a genesis because they like the car, fine i'm ok with that. but if a person is afraid to get a nice car that he can afford because of the stigma of being wealthy, then he needs to get his head checked. there will always be rich and poor people, and there will alway be someone richer or poorer than you, regardless whether the economy is in a boom or a recession.
where do you draw the line? you now drive a genesis, but wait! the poor neighbours in your area drive camrys and accords. oh! to show off like that! gotta downgrade to a camry or accord now with luxury package. but wait! lots of people drive drive cheap american cars, i guess i need to do the same! but wait! lots of people go transit because they can't afford to buy a car, so i guess i have to take the bus to work!
sorry for the rant, but everytime i hear stories about people downgrading due to (psychological) fear of wealth, it just p*sses me off!
ok, as you were.
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Pole Position
Joined: Jun 2008
Posts: 348
Likes: 0
From: NY
The whole Aston Martin to Genesis thing sounds shady to me, I'm sure technically the CEO is telling the truth but I'm taking it in the same vain as when Clinton said "I did not have sexual relations with that woman" with a whole bunch of technicalities involved, for all we know the guy traded in a shell.
Good psychological marketing tactics by Hyundai though as most people probably don't think twice about it and automatically assume this guy is talking about recent MY Aston Martin, 7's and S's etc etc and are thinking "Damn, the car is that good?"
Good psychological marketing tactics by Hyundai though as most people probably don't think twice about it and automatically assume this guy is talking about recent MY Aston Martin, 7's and S's etc etc and are thinking "Damn, the car is that good?"
Lexus Fanatic
Joined: Dec 2006
Posts: 6,806
Likes: 7
From: californication
it's a good marketing piece.
if they keep telling the public that wealthy people are buying the genesis, maybe that will get more wealthy people to buy it.
what else can they do? The consumer that usually buys the $25k car isn't gonna move up to the Genesis. So that only leaves the richer people.
if they keep telling the public that wealthy people are buying the genesis, maybe that will get more wealthy people to buy it.
what else can they do? The consumer that usually buys the $25k car isn't gonna move up to the Genesis. So that only leaves the richer people.
Lexus Fanatic
Joined: Oct 2003
Posts: 94,628
Likes: 280
From: Virginia/D.C. suburbs
Rookie
Joined: Apr 2008
Posts: 55
Likes: 0
From: US
Those numbers are pretty low considering the hyping of the Genesis sedan. So far I consider the Genesis sedan a flop. This isn’t to say it isn’t a good car, but consumers don’t want to pay premium for a Hyundai and their not (look at the numbers).
Lexus Fanatic
Joined: Oct 2003
Posts: 94,628
Likes: 280
From: Virginia/D.C. suburbs
(Ford, BTW, has announced a more-or-less similiar plan)
Lead Lap
Joined: Oct 2008
Posts: 667
Likes: 0
From: Texas
They keep talking about this car, yet my friend at a Hyundai store has had the same Genesis on his lot for almost 5 months, and they are refusing more allocations from Hyundai because they can't sell the ones they have.
I have yet to see one on the road, and I notice cars.
I have yet to see one on the road, and I notice cars.