Hyundai CEO wants Genesis sales boost in Oz

GENESIS Australia’s next growth phase will centre on a more deliberate premium retail experience, an expanded choice of powertrains, and the introduction of the Magma performance sub-brand.

But the luxury arm of the Hyundai Motor Company (HMC) will also seek to apply learnings from the United States on markets like Australia, where HMC and Genesis president and chief executive José Muñoz hopes to see sales growth.

Last year, Genesis delivered 82,000 cars in the United States, a market where 16 million vehicles are sold each year. That was good enough for about 0.5 per cent total share, dramatically outpacing the circa-0.2 per cent share won by Genesis Australia, which sold 1602 units in our million-car market in 2025.

Speaking with GoAuto ahead of Genesis’ debut in the hyperclass of the 24 Hours of Le Mans endurance race, Mr Muñoz said the premium brand was targetting a 55 per cent lift in global sales within four years, and that the Asia-Pacific and European regions had to pull their weight.

Asked how Genesis’ sales performance in Australia could be boosted, Mr Muñoz did not directly critique the local business – which has sold between 1039 and 1916 vehicles annually for the last four years – instead pointing to the United States market as a template for growth.

The global Hyundai chief said the US luxury market had been “a huge demonstration on what to do, and how to do (things), to be successful,” citing premium positioning, superior ‘Son-Nim’ retail hospitality to rival brands, dealer exclusivity and a broader product offer as key ingredients.

The comments come as Genesis Australia continues to operate as a low-volume challenger to established premium marques, and newcomers including BYD’s Denza. Locally, Genesis deliveries peaked at 1916 vehicles in 2023 before falling the following year and stabilising in 2025 with 1602 cars sold.

Those volumes remain small against the German luxury brands, but GoAuto understands that Genesis Australia has met its internal sales targets in most years, indicating the brand’s local performance is being judged against careful growth expectations rather than outright volume.

While South Korea remains the largest outright market for Genesis, the US division of the company remains the star student. The North American arm has delivered 20 consecutive months of sales growth, which Mr Muñoz, an American himself, attributes to getting the basics right.

Those basics include convincing key Hyundai dealers to co-invest in exclusive Genesis retail showrooms with a high level of service, and by protecting resale values by avoiding discounting, though Genesis Australia says it will stick with its Agency Showcase retail model for now.

“We have a lot of confidence in the US. We have a lot of confidence in Korea, where we are leading that market. We are here in Europe, where we are showing that we have a big plan to roll (Genesis) out,” said Mr Muñoz.

“In Australia, we’re going to try to (grow Genesis) with the same recipes, with good quality of product (and by) launching new technologies like hybrid and more, and then by developing an exclusive dealer network. We’re not in a rush.

“I don’t see any reason why we shouldn’t be reasonably successful (in Australia). You have to play well, and eventually, you will score … you need to be hungry, and then eventually, you will get the results.”

The strategy aligns with broader Genesis plans, which encompass the launch of hybrid engines, the Magma sub-brand, and a GV90 flagship SUV set to rival various Range Rover models.

For Australia, the arrival of hybrids is strategically important.

Genesis currently leans heavily on pure-petrol and pure-electric powertrains, leaving a gap for desirable hybrid and PHEV variants, particularly in light of the favourable treatment of PHEVs and BEVs under the New Vehicle Efficiency Standard (NVES).

The GV70 midsize SUV, priced from $79,300 plus on-road costs, remains the brand’s most important local model. The GV70 range has direct rivals to four- and six-cylinder versions of the BMW X3 and Audi Q5, plus a BEV variant, but is lacking a low-CO2 hybrid offer, for now.

While pricing of key GV70 variants, especially the twin-turbo V6, undercuts the German competition, value positioning has not produced significant scale in Australia as yet. The next step is expected to involve a broader product range and immersive retail ecosystem, as seen in the early days of Lexus.

The Magma sub-brand is also set to give Genesis a clearer performance identity, with the GV60 Magma BEV already confirmed globally and Genesis Magma Racing being used to lift brand awareness through endurance motorsport, including at this year’s 24 Hours of Le Mans.

Chief creative officer Luc Donckerwolke said that the Korean premium brand’s consistent design language meant the growing line-up was coherent and appealing to customers.

“We didn’t just do one car and then wait-and-see if it works, and then do another one,” he said.

“We were working in the design studio on the whole lineup at the same time.”

That prospective lineup included the Magma GT supercar, which is now under active consideration to enter production if the business case stacks up. It would sit at the high end of the range, alongside the GV90 crossover that is expected to be revealed in the coming months.

In time, replacements for the important GV70 and GV80 SUV models are also expected, though the current models are still understood to have at least two years of life remaining.