Genesis GV80 SUV Sees Price Increase in 2024 Model Year Update
Genesis, the luxury division of Hyundai, has announced a series of updates for its flagship GV80 SUV model. However, these updates come at a cost, with the entry price now exceeding $100,000. Additionally, all variants of the GV80 with the 2.5-litre turbocharged four-cylinder petrol engine have been discontinued in the Australian market. The decision to stop selling these models was based on their relatively low sales, accounting for only 25 percent of total GV80 sales.
Variants and Engine Options
The GV80 SUV is still available in Australia with the 3.5-litre V6 turbo-petrol and 3.0-litre inline-six turbo-diesel engines. However, there have been recent reports that the diesel engine option will be discontinued globally. The remaining GV80 line-up has also undergone a price increase of $2030, attributed by Genesis Australia to increased manufacturing and transport costs.
The updated 2024 Genesis GV80 range now starts at $105,700 with the 3.0-litre inline-six turbo-diesel engine, and $110,200 with the 3.5-litre turbocharged V6 petrol engine, before on-road costs. Orders placed from September 1 onwards will be subject to these new prices, while existing customer orders are locked in at the pre-update pricing, regardless of the delivery date.
Luxury Packages
The Genesis GV80 offers two luxury packages for customers to choose from. The $10,500 Luxury Package includes a range of premium features such as reverse parking collision avoidance, smart parking assist, nappa quilted leather upholstery, LED matrix headlights, and a 12.3-inch digital instrument cluster, among others. The $13,500 6-seat Luxury Package includes all the features of the base Luxury Package, as well as additional amenities like second-row bucket seats, dual 9.2-inch second-row touchscreens, and a rear wireless phone charger.
It’s important to note that the luxury packages are available on all GV80 models and can be combined with the optional $2000 matte paint option. However, the matte paint option can only be selected when paired with the Luxury Package.
Market Performance and Future Plans
In terms of market performance, the Genesis GV80 has faced stiff competition in Australia. As of July, Genesis had sold a total of 208 GV80s, significantly lower than rival models such as the Audi Q7, BMW X5, Land Rover Defender, Mercedes-Benz GLE wagon, and Volvo XC90, which have seen greater sales success.
Looking ahead, Genesis plans to expand the GV80 range with a coupe SUV variant, which was previewed by the GV80 Coupe Concept. Overseas reports also suggest that a new flagship mild-hybrid twin-turbo petrol V6 engine will be added to the GV80 line-up, while the diesel engine option is expected to be discontinued globally.
Editorial
The price increase of the Genesis GV80 SUV in its 2024 model year update has raised eyebrows among luxury car shoppers. With the entry price now exceeding $100,000, the GV80 competes directly with top contenders in the luxury SUV segment, such as the Audi Q7 and BMW X5. However, the decision to discontinue the 2.5-litre turbocharged four-cylinder petrol engine variants may limit customer options and impact overall sales.
The luxury packages offered by Genesis add significant value to the GV80, with a range of premium features and amenities. However, potential buyers may find the price increases, along with the additional cost of the luxury packages, to be a deterrent. It remains to be seen whether the updated GV80 range can compete effectively against its well-established rivals.
Advice
For customers considering the Genesis GV80, it is essential to carefully evaluate the available engine options and price points in relation to competitors in the luxury SUV market. While the GV80 offers impressive features and amenities, the recent price increase may require potential buyers to reconsider their budget and overall value proposition.
Additionally, for those specifically interested in the discontinued 2.5-litre turbocharged four-cylinder petrol engine variant, exploring alternative options from other luxury brands may be necessary.
Ultimately, it is recommended that interested buyers conduct thorough research, visit local dealerships, and take test drives to fully assess the Genesis GV80’s performance, features, and overall value for money when considering their luxury SUV purchase.
<< photo by Daniel Olah >>
The image is for illustrative purposes only and does not depict the actual situation.
