Genesis India launch soon, to import cars directly via CBU initially
Hyundai Motor Corporation is gearing up to introduce its premium luxury brand, Genesis, into India’s thriving luxury car segment, with expectations pointing towards a launch by the latter half of 2025. Reportedly, Hyundai has initiated a dedicated team to strategise the brand’s entry into the Indian market. The focus for Genesis in India appears to be on SUVs initially, aligning with the growing trend in the luxury automotive sector.
Genesis India launch is anticipated to commence with the introduction of two Completely Built Unit (CBU) models, with plans for local assembly to follow subsequently. As part of its market entry strategy, Hyundai is currently evaluating the potential launch of the GV70, GV80 and the upcoming GV90 SUVs in India. These models will cater to the Indian luxury car clientele, competing with established players such as Audi, Mercedes-Benz, BMW, Land Rover, Lexus, Volvo, etc.
The GV70, positioned as a rival to the Mercedes GLC and Audi Q5, boasts multiple powertrain options including petrol and petrol-hybrid variants. Meanwhile, the GV80, a popular Genesis SUV globally, competes in the segment alongside the Mercedes-Benz GLE and BMW X5. Additionally, the brand’s electric offering, the GV60 e-SUV, and the forthcoming GV90 SUV, promise to further enrich Genesis’ portfolio in the Indian market.
Hyundai’s Genesis brand has achieved significant milestones globally, surpassing the one million-unit sales mark since its inception in November 2015. With a robust annual sales average and an expanding electrified portfolio, Genesis aims to consolidate its presence in key markets, including India.
The Indian luxury car market, characterised by its rapid growth trajectory, presents a lucrative opportunity for automakers. Despite its modest share in the overall passenger vehicle segment, the luxury car market is poised to surpass 50,000 units for the first time in 2024. While industry projections hint at a sub-5 percent growth, luxury car manufacturers remain optimistic about achieving double-digit growth in the coming years.
Looking ahead, Genesis has outlined ambitious plans to transition into a zero-emission brand by 2030, with a focus on electric vehicles starting from 2025. This strategic move aligns with Hyundai’s commitment to environmental sustainability, aiming to achieve carbon neutrality by 2035.
