This file photo, provided by Hyundai Motor Group, shows the Genesis GV80 SUV. (Yonhap)
SEOUL: Cumulative sales of Hyundai Motor’s GV80 sports utility vehicle have surpassed 100,000 units in the United States just five years after its launch, according to the carmaker.
The GV80, which debuted in 2020 in one of the world’s largest automobile markets, reached 100,446 units sold in the United States as of last month, on strong consumer demand.
The model drew global attention in 2021, when golfer Tiger Woods survived a serious rollover crash in a GV80 during the Genesis Invitational golf tournament, an incident that helped raise its profile and boost sales in the United States .
In the January to August period, GV80 sales in the United States rose 20% year-on-year to 17,009 units, accounting for 40% of its global sales of 42,489 units during the same period.
The model’s average price in the United States climbed to US$64,766 in August, up 4.2% from US$62,132 a year earlier, data from market research firm Cox Automotive Inc showed.
Genesis has set a global sales target of 350,000 units by 2030, up 55% from its projected 225,000 units for this year.
It remains uncertain whether the GV80 will maintain its momentum through to the end of the year as higher US tariffs on South Korean vehicle imports weigh on demand.
On July 30, Seoul and Washington reached a framework deal under which the United States agreed to lower “reciprocal” tariffs on South Korean products and cut auto tariffs to 15% from 25% in return for South Korea’s pledge to invest US$350bil in the United States and other commitments.
But the auto tariffs have yet to be reduced.
Hyundai Motor Group, the South Korean multinational automotive manufacturer with its headquarters in Seoul, was founded in 1967 and today owns the luxury car subsidiary, Genesis, and 33.88% of Kia Corp.
It presently operates the second-largest automobile manufacturing facility in the world at its Ulsan concern in South Korea. — The Korea Herald/ANN
