The Seoul-based automaker sold 1,008,804 automobiles as of the end of August 2023. Customers in South Korea purchased no fewer than 690,177 units. What is especially interesting about said milestone is that the half-million mark was surpassed in May 2021. In other words, it took Genesis only two years and three months to sell a further 500,000.
It all started with the G90 full-size luxury sedan, which is joined by the G80, the company's best-selling model since 2015. According to Genesis, no fewer than 390,738 examples were sold in total.
That's not going to last for long because SUVs are far more popular nowadays. The GV80 and GV70 have racked up cumulative sales of 178,882 and 160,965 copies. Care to guess which is the second largest market for the South Korean manufacturer? That would be the United States of America, where sales crossed 225,000 automobiles as of August 2023.
No fewer than 10 models are currently available, starting with the compact executive G70. The brand has also ventured into EVs to prepare for the zero-emission future, with Genesis currently selling two such vehicles: the GV60 and Electrified GV70.
Although the GV60 for the US market comes from South Korea, the Electrified GV70 is put together in the United States at Hyundai Motor Manufacturing Alabama. The facility also produces the Hyundai Elantra sedan, Tucson, Santa Fe, and Santa Cruz pickup, as well as four-cylinder engines with displacements ranging between 1.6 and 2.5 liters.
Turning our attention back to all-electric stuff, did you know that every Genesis will be purely electric from 2025 onward? Its transition to a completely electric lineup is definitely ambitious, but still, that's what both legislators and consumers appear to want. Even though internal combustion-engined vehicles vastly outsell EVs today, the mid-long term will see fewer and fewer new ICEs hitting dealer lots.
On the one hand, Europe is bracing for the Euro 7 standard. Famously dubbed as being a de facto ban on new internal combustion vehicles, Euro 7 is much tougher on fine particulate matter, namely PN10 (larger than 10 nanometers in diameter). What's more, all internal combustion engines are required to emit no more than 60 mg of NOx per kilometer.
Over in the United States, the Corporate Average Fuel Economy (CAFE) standards are stricter by the year. The industry-wide fleet average should improve to 49 miles per gallon (4.8 liters per 100 kilometers) in model year 2026, which requires an increase in fuel efficiency of 8 percent for model years 2024 and 2025, as well as 10 percent for model year 2026.