'This domestic car' that Middle Eastern royals can't ride... Overseas reaction 'shock itself'
Reporter Lee Hyo-jeong views
Genesis is incredibly popular
The Middle East's 'Luxury' Image
Africa is also on the verge of expansion
The popularity of Hyundai Motor Company’s premium brand Genesis is skyrocketing. The domestic market has not seen such a big response, but it seems that it is different overseas. The head of Genesis Africa and Middle East (GMEA) recently had an interview with several media outlets. The head of GMEA said, “Genesis has been achieving 100% of its annual sales target in the Middle East. This year, we expect to easily achieve the target of 8,000 units,” and announced that next year’s target will be raised by about 10%.
Why did Genesis achieve such rapid growth in the Middle East? The GMEA CEO said, “We used the COVID pandemic period as a time to build a luxury brand image.” Naturally, word of mouth spread among certain high-end customers, such as royalty and aristocrats in the Middle East, and attracted more customers.
Increase market share
Genesis's position rises
And these efforts are said to have been the impetus for simultaneously increasing brand awareness and market share. It is said that in the Middle East, there is a culture in which drivers test and purchase vehicles first, and Genesis also seems to have taken advantage of this to present a luxury strategy. It is said that 97% of VIP customers who experienced Genesis in the early days of its market entry purchased vehicles, which shows how great Genesis’ position is in the Middle East market.
The GMEA CEO said, “Genesis’ focus, past and present, is to enable as many people as possible to experience quality, design, and a sense of luxury.” Another secret to Genesis’ success in the Middle East market is probably the “One of One” program. One of One is a service that manufactures and sells customized vehicles that reflect the customer’s tastes, preferences, and individuality.
'One of One' program, etc.
Effective Unconventional Marketing Strategy
The GMEA CEO said, “The One of One aims to provide a car that ‘no one else can buy, and only they can afford. ’” He added that the most expensive G90 long wheelbase model costs a whopping $35 (about 5 million won). Special editions such as the GV80 Coupe and GV80 Twilight are priced at a high $15 to $20.
Genesis’ unique marketing also seemed to be an effective sales tool. In Dubai, police cars used in luxury homes and tourist attractions are high-end luxury brand cars (Lamborghini, Ferrari, etc.), and Genesis took advantage of this. They built a good relationship with the local government and had the GV80 used as a smart patrol car.
To the African region
Planned for gradual expansion
Meanwhile, GMEA CEO expressed strong ambitions, saying, “We are also expanding into the African region. Although some markets are difficult due to regulations with the EU, we are reviewing them from various angles. We are approaching this with a strategy to become a strong player in the market beyond just entering the market. We will also enter the African market at the appropriate time.”
Genesis is currently recording high sales in the United States as well. As of November, it sold 11 units, up 33.7% year-on-year, recording its highest monthly sales. The GV8,300 sold 70 units, up 39.3% year-on-year, breaking its own record for the highest monthly sales, and the G3,235 also sold 70 units, making it the best-selling month of the year. Expectations are rising for Genesis’s future, which continues to show an upward trend.
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The Hyundai car assembly workers have excellent footwork...