Genesis executives laid out a plan for rapid growth during the brand's NADA Show make meeting, doubling its vehicle offerings in the next few years and implementing a new compensation program with a focus on facility upgrades.
The upstart marque's first crossover, the GV80, will arrive in showrooms by summer, followed by a compact crossover next year and an electric vehicle probably by 2022.
Peter Lanzavecchia, owner of Genesis of Cherry Hill in New Jersey and a member of the national dealer council, said executives told dealers the GV80 is selling strong even though it has not officially been priced.
"We've already got a third of our 2020 calendar year GV80 production preordered by customers," he said. "And we anticipate that by the [first deliveries] for the GV80, we will have over 50 percent of this year's total production pre-sold."
So 2020 is looking to be a big sales year, even after sales for its existing three sedans more than doubled last year despite weakness of the luxury-sedan segments in general.
Beyond product, executives gave details about an overhaul of the brand's U.S. operations. Included was final information on a facilities program rolled out this year that creates more differentiation between Genesis and the Hyundai dealerships that sell the luxury vehicles.
"Everything is happening so fast that it's not getting out to the dealers fast enough," Lanzavecchia told Automotive News. "So the dealers were, like, 'Wow, I didn't know that. There's the facility, there's the program, this is how it integrates with the Hyundai program — I get it.' "
Executives also said a fresh advertising spot is being shot with Genesis' new brand ambassadors, musician John Legend and his TV-host wife Chrissy Teigen.
Meanwhile, details are being finalized for a certified pre-owned vehicle program as the first Genesis sedans are coming off lease from late 2016. Dealers are buying them up but waiting on program details.
