Genesis Reports Quadruple Growth in U.S. EV Sales for 2023

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Genesis U.S. EV Sales Surge in 2023

In a remarkable achievement, Genesis witnessed a fourfold increase in electric vehicle (EV) sales within the U.S. market during the year 2023. The total units sold reached an impressive 69,175, marking a substantial 23% year-over-year growth. Notably, the fourth quarter alone accounted for 18,514 units, reflecting a commendable 19% increase.

Dominance of All-Electric Cars

The surge in Genesis’s overall sales was primarily attributed to the success of their all-electric cars, constituting approximately 10% of the total sales volume. Detailed data released by the Hyundai Motor Company revealed that Genesis’s Battery Electric Vehicle (BEV) sales in the U.S. witnessed an extraordinary uptick, reaching 2,042 units in Q4 alone. This significant achievement represents a staggering 271% year-over-year increase, contributing to a record 11% share of the total Genesis sales.

Top Performers and Record-Breaking Models

Examining individual models, the E-GMP-based Genesis GV60 emerged as the frontrunner in popularity, notching a record 1,182 sales in Q4, showcasing a remarkable 115% year-over-year increase. The Genesis Electrified G80 and Genesis Electrified GV70 also made substantial contributions with 145 and 715 units, respectively.

2023 Highlights and Future Aspirations

Genesis’s overall EV sales for the year 2023 amounted to 6,403 units, marking an extraordinary 303% year-over-year surge and accounting for 9.3% of the brand’s total sales. The breakdown of specific models is as follows: Genesis Electrified G80 (1,329 units), Genesis Electrified GV70 (1,674 units), and Genesis GV60 (3,400 units with a notable 114% increase). Noteworthy is the brand’s commitment to an all-electric lineup by 2030.

Hyundai Motor Group’s E-GMP EV Sales

These exceptional sales figures for Genesis enable us to delve into the wider Hyundai Motor Group’s Electric-Global Modular Platform (E-GMP) EV sales. Hyundai’s total E-GMP-based EV sales reached an impressive 70,314 units. The breakdown includes 46,917 units of Ioniq 5 and Ioniq 6, 19,997 units of Kia EV6 and EV9, and 3,400 units of the Genesis GV60, further solidifying the group’s position in the thriving electric vehicle market.

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