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Genesis GV80 Coupe. Not currently available in Europe. (Photo by Derek White\/Getty Images for SCAD)<\/p>\n
Getty Images for SCAD<\/p>\n
“Failure is simply the opportunity to begin again, this time more intelligently,” said Henry Ford.<\/p>\n
Hyundai<\/a> of Korea and its Kia sibling have been showing Ford the way in the modern world of auto manufacturing, but maybe its Genesis premium subsidiary\u2019s European operation can take some comfort from the great man\u2019s words. <\/p>\n Genesis\u2019s first attempt<\/a> to win premium sales in Europe led by the GV60<\/a> has stalled; its second attempt looks challenged as it coincides with the arrival of the Chinese behemoth. <\/p>\n \u201cThey may as well pack up and go now. Genesis was always on the road to nowhere, to paraphrase the Talking Heads (1985 hit song),\u201d said Schmidt Automotive Research<\/a> founder Matt Schmidt.<\/p>\n Jamel Taganza, vice-president of French auto consultancy Inovev<\/a>, is more positive, but says success will take time.<\/p>\n \u201cPersonally, I still believe there is market potential in Europe for a brand like Genesis, especially if Lexus continues to invest only cautiously in the EV segment. However, for Genesis, this is clearly a long-term strategy,\u201d Taganza said in an email exchange.<\/p>\n Genesis is radically revamping its strategy. The plan was to beat the Germans at their own game. Offer fantastic quality premium cars at lower prices than BMW, Audi, Mercedes and Porsche with unbeatable personal service, but it spluttered. In 2025, Genesis sold a miniscule 2,476 cars in Europe, down 6.7% from the previous year. Compare this with the U.S. market, where Genesis sold 82,331 vehicles in 2025, up almost 10% on the previous year, outselling Nissan\u2019s Infiniti and closing in on Ford\u2019s Lincoln. <\/p>\n China has other ideas<\/p>\n Genesis is still determined to make Europe work, adding France, Italy, Spain and the Netherlands markets to its initial concentration on Germany, Britain and Switzerland. The Chinese will have other ideas.<\/a><\/p>\n China is not just winning sales in the European mass market, it is stepping directly into the path of Genesis with premium offerings from BYD<\/a>\u2019s Denza, NIO<\/a>, XPeng<\/a> and Zeekr<\/a>.<\/p>\n The plan was to entice Europe\u2019s badge-obsessed buyers with tempting offers including lower prices, personal, concierge-style service and an end to dealerships. The first five years of servicing were included. Wherever you were in the country, Genesis would collect and return your car for its annual (or bi-annual) once-over. Not being German was thought to be an important sales incentive. Genesis concentrated on electric vehicles led by the GV60, and it planned on introducing only new EVs after 2025 and going all-electric by 2030. This year Genesis is also producing a hot version of the GV60 with its Magma racing. <\/p>\n Parent company Hyundai is a hugely successful global automaker selling more than 7 million vehicles a year, so it can afford to make some mistakes. <\/p>\n Global sales target 350,000<\/p>\n The sales targets were believed to be very ambitious, although Genesis never revealed details. But it does have a global sales target of 350,000 by 2030 and it sold 220,800 in 2025. <\/p>\n The trouble was Genesis\u2019s EV-centric plan fizzled out as sales stalled, while Europeans stayed wedded to the German monopoly. Genesis was forced to change its model program to include hybrids and extended-range EVs (EREV). The concierge idea is being watered down in favor of dealerships, perhaps shared with Hyundai and Kia.<\/p>\n Inovev\u2019s Taganza said Genesis has faced some unexpected problems since starting its European operation in 2021 – <\/p>\n \u201cAll of this has made it more difficult for Genesis to establish itself as a true premium brand in Europe,\u201d Taganza said.<\/p>\n Schmidt points out that even Toyota\u2019s mighty Lexus has had trouble breaking into the European market.<\/p>\n \u201cLexus has been trying for almost 40 years now and still commands just 0.5% of the West European new passenger car market, while the premium market as a whole accounts for over 20% of the total market, and is dominated by German brands,\u201d Schmidt said. <\/p>\n \u201cWhen it comes to Genesis\u2019s share you have to start adding two decimal places, given they delivered fewer than 3,000 units across the region last year. You can certainly see the logic behind the dream of building a premium brand in Europe given the profit margins tend to outnumber the volume sector in a normal year by a factor of 3, traditionally in an 8-10% corridor, but a new Asian brand stands little chance of penetrating the thick defensive walls which consist of at least half a decade of German brand equity and bragging power, no matter how good these new generation of Asian premiums are,\u201d he said. <\/p>\n Stable residuals a must<\/p>\n \u201cPlus, to make a premium business model work, stable residuals are a must. Gaining trust from large fleet partners also takes time, and that trust can\u2019t be built overnight,\u201d according to Schmidt.<\/p>\n MAEXTRO S800 (Photo by Fred Lee\/Getty Images)<\/p>\n Getty Images<\/p>\n\n