Genesis has unveiled plans for its all-electric large SUV, the GV90, amid speculation about the future of the Genesis G70, whose sales have been steadily declining.
Hyundai, the parent company of Genesis, recently sent a request for quotation (RFQ) to key automotive partners, outlining its strategy to integrate the next-generation electric vehicle (EV) platform, dubbed ‘eM’, across its lineup. This includes the GV90, with an anticipated annual production volume of approximately 21,000 units, the GV80 with 68,000 units, the GV70 with 40,000 units, and the G80 with 51,000 units. The cumulative production target for these four premium Genesis models is set at around 1,132,000 units between December 2025 and 2033. Notably absent from these plans are the G70 and the GV60, sparking discussions about their potential discontinuation due to lagging sales.
Initially, Hyundai had plans to develop a successor to the G70, internally referred to as RN2. However, these plans have been shelved. The most recent G70, launched in May 2023, was a facelift with minimal exterior and interior changes. In line with Genesis’ commitment to an all-electric portfolio starting from 2025, the G70’s future appears bleak. A source within the company revealed, “In the early stages of development, the next G70 was about to get much bigger than the current model. But in that case, it will not be notably different from G80, and that’s why Hyundai decided to drop the project.”
The Genesis G70, which debuted in 2017, initially enjoyed strong sales, with 4,345 units sold within the first four months. The following years saw robust figures, with 14,417 units sold in 2018 and 16,975 in 2019. However, sales began to plummet in 2020, with only 7,910 units sold—a 54.4% decrease from the previous year. The downward trend continued with 7,429 units in 2021 and 6,087 in 2022. As of this year, sales have further dwindled to just 3,727 units. The decline in G70 sales underscores a broader market shift towards more spacious sedans and SUVs, which have become increasingly popular among consumers.
