@JT816
Please note that I believe you bring up many valid points and that my comments were not meant to offend. I am simply looking to bring an alternate view. Ultimately, it comes down to numbers and I did a quick search to see how the Genesis has been doing since its introduction and came across this (I don't have time to cross check numbers with other sources but for the sake of argument, I will assume these are correct. If you can find contradicting info, please share) These numbers, however, paint an interesting picture:
Jan 12, 2009
The luxury car segment is dominated by a group of 'Made in Germany' limousines including BMW 5-series, Audi A6 and Mercedes-Benz E-Class. But there are also others top tier car models such Lexus GS, Cadilac CTS or Volvo S80 (etc..)
In the group of worlds finest limousines, how does the Genesis compete with the likes of BMWs, Audis and others? This time, we are not interested in characteristic numbers, but monthly sales statistics and that reveals Genesis sedan has done a great job in its first six months and figures show it already outperforms several more prestigious nameplates.
Despite a worldwide financial crisis, which has greatly slowed down the demand for luxury cars, the Genesis sedan has maintained its sales numbers above 1,000 units per month. Its sales were lower than 1,000 units only in its first month, when supply was still limited and dealers didn't have enough cars on their lots.
Since its introduction in July, the company has sold 5,127 units (until the end of November 2008). Even in December '08, in one of the worst sales months in the past 12 years, Hyundai moved 1,041 Genesis sedans from dealer showrooms! Its sales numbers are exceeding our expectations and by far surpassing sales predictions of those car enthusiasts that still don't consider Hyundai as a top-tier automaker.
(Table comparing Genesis sales versus 'peers')
GENESIS: Jul (619), Aug (1171), Sep (1029), Oct (1121), Nov (1151)
BMW 5-Series: Jul (4525), Aug (5287), Sep (2423), Oct (3958), Nov (2927)
MB E-Class: Jul (4938), Aug (2681), Sep (2968), Oct (2098), Nov (2264)
Audi A6: Jul (929), Aug (1520), Sep (1090), Oct (758), Nov (717)
Lexus GS: Jul (1297), Aug (1686), Sep (977), Oct (819), Nov (717)
Cadillac STS: Jul (1079), Aug (975), Sep (856), Oct (632), Nov (630)
Hyundai's U.S. vice president of marketing, Joel Ewanick says that over the past 90 days, the Genesis has sold at or near objectives and the company considers its performance to be a very healthy launch. The sedan went on sale in July, and dealers have shifted 6,538 units thus far, including 1,411 last month. Ewanick notes that fully 90 percent of all Genesis buyers are originating outside of the brand, including 40 percent that have traded in vehicles like Lexus, BMW, Mercedes, and Porsche.
My spin: This article is certainly not inferring that Porsche or BMW owners will line up to trade in their vehicles as all it takes is one trade-in from each company to make the above claim. I think it shows that they are carving a nice little niche for themselves and have taken another step forward with respect to improving their brand.