Genesis Q1 2024 Sales Update

Genesis has recorded a 7.3% increase in its car sales within the U.S market for the first quarter of 2024, with 14,777 units sold, but its progress in the all-electric vehicle segment has been modest The company sold 992 electric vehicles which constituted merely 6.7% of their total sales. Despite offering three models — the Electrified G80, Electrified GV70, and GV60 — Genesis has witnessed a significant 53% drop in its global EV wholesale shipments compared to last year The Electrified GV70 is noted as the only model to see a year-over-year growth The most affordable among them, the Genesis GV60, is priced from a starting MSRP of $52,000, and the driving range for Genesis EVs spans from 235 to 294 miles according to EPA estimates. The modest performance in the electric market comes amid an otherwise positive sales trajectory for the brand in a competitive automotive landscape.