economy
Entered 2024.03.23 15:44 Modified 2024.03.23 17:38
Genesis G90 sales surpass Mercedes Benz S-Class
The proportion of ownership by corporations and businesses is also significantly higher.
Appeared as an official ceremonial medium for Chairman Lee Jae-yong and others
Photo = News 1 “At first, I was very busy keeping up with it and it was difficult to develop it myself.” This is what I heard from a high-ranking official who was involved in launching the Genesis brand from the beginning when covering the unveiling of the new Genesis ‘G90 Black’ on the 14th. But now the status has changed. This is because it even caught up with the sales volume of the Mercedes-Benz S-Class, which was considered Korea’s leading luxury large sedan.
According to the Kaizu U Data Research Institute on the 23rd, sales of the Genesis G90 last year recorded 13,284 units, surpassing the Mercedes S-Class (9,414 units). The revised 4th generation model of the G90 was fully released in December 2021 for the first time in 3 years. At the time, it became a hot topic by surpassing the Mercedes-Benz S-Class and first place in domestic large sedan sales just six months after its launch.
The corporate and business ownership share of the Genesis G90 was also higher than that of the Mercedes S-Class. Last year, among corporate cars sold between KRW 100 and KRW 200 million, the Genesis G90 was owned by corporations and businesses at 67.6%, surpassing the Mercedes S-Class (50.9%). This means that the domestic car Genesis G90 is preferred over the imported car Mercedes-Benz S-Class. Genesis G90, G90 Long Wheelbase./Photo = Genesis
The chairman’s car…appears one after the other like a ceremonial vehicle.
As can be seen from the high proportion of ownership by corporations and businesses, the Genesis G90 is also popular as a ceremonial vehicle. In Korea, it is also a vehicle favored by the heads of large corporations. In particular, Samsung Electronics Chairman Lee Jae-yong is often seen riding the G90 at official events.
Chairman Lee, who was vice chairman at the time, appeared in a G90 at the wedding of Chairman Chung’s eldest daughter Eui-sun Jin-hee to his daughter Won-ju in June 2022. Chairman Chung also attracted attention by riding the same Genesis G90 as the Lee Chair. Chairman Lee is also said to have ridden a G90 when he moved to Seungjiwon with Mark Zuckerberg and his wife last month. SK Group Chairman Chey Tae-won is also known to use the G90 as his official ceremonial vehicle.
Last year, the United Arab Emirates (UAE) government attracted attention by providing five white Genesis G90s to Korea for use by a ministerial-level entourage during President Yoon Seok-yeol’s state visit. The vehicles used by the UAE government as ceremonial vehicles were luxury sedans from three German companies, including Mercedes-Benz, BMW, and Audi, but since the G90 is a luxury brand representing Korea, it newly added as a ceremonial vehicle for guests of state. In June, 77 G90s are scheduled to be used as official ceremonial vehicles for the 2024 Korea-Africa Summit and side events.
An industry official said, “Because it is a domestic brand, options tailored to the domestic road environment and safety and convenience specifications may be better than imported cars. Above all, it has r the advantage of being convenient for service and repair.”
Choi Soo-jin, Hankyung.com reporter naive@hankyung.com
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