“The advertising of the Genesis G70 is focused on price-competitiveness with more horse power. However, consumers in the luxury car market don’t make a choice simply based on cost-effectiveness.” assessed the official. (Image: Genesis)
SEOUL, Oct. 3 (Korea Bizwire) – “Our goal is not cost effectiveness. We do not think that the target markets overlap,” said an official with one of the competing automakers when Genesis designated the Benz C-class and BMW 3 series as competitors of its model G70 before its launch in the market.
“The advertising of the Genesis G70 is focused on price-competitiveness with more horse power. However, consumers in the luxury car market don’t make a choice simply based on cost-effectiveness.” assessed the official.
However, the sales records of the G70 since its launch on September 20th have been beyond expectations so far.
According to Genesis, the cumulative sales of the G70 exceeded 3,000 until the 28th. Excluding the weekend in between, the number of sales for the six-day period reached 483 per day. An official of Genesis said that 2,000 contracts were made on the first two days after its launch, and some 140 G70 models are being sold on average each day.
The sales result of 3,000 vehicles sold is a figure already reaching 60% of the year’s sales goal of 5,000. It has already completed half of the sales goal within a week.
Genesis also stressed that the sales number achieved in a week is four times respective monthly sales of the Benz C-class and BMW 3 series. “The elegant and at the same time energetic design, powerful performance and luxurious interior has appealed to consumers, leading to a sales increase.
“Our goal is not cost effectiveness. We do not think that the target markets overlap,” said an official with one of the competing automakers when Genesis designated the Benz C-class and BMW 3 series as competitors of its model G70 before its launch in the market. (Image: Genesis)
However, BMW is remaining optimistic and assessing that the effect of the G70 on the market will be minimal, stressing the comparative edge of its 3 series models in agile driving performance, with their light body frames, engine efficiency, and low emissions.
Benz, on the other hand, prided itself on the variety of its C-class models.
“We are guaranteeing consumers a choice with the 8 different models topped with 6 kinds of powerful engines. And the C350e, an eco-friendly plug-in hybrid model boasting best-in class efficiency and dynamics is set to be launched.” said an official of Benz.
M.H.Lee (mhlee@koreabizwire.com)
