Hyundai pulls UK plug on slow-selling Genesis
Hyundai has dropped its executive model the Genesis from its UK line-up.
Slow sales have been blamed for the move, Hyundai shifting just 50 units in the two years the Genesis has been on sale in the UK. In contrast, BMW sold more than 21,000 5-Series in the UK in 2015.
The Genesis was only available with a thirsty 3.8-litre V6 petrol engine, costing from £50,705, making it just as expensive as German rivals such as the BMW 5-Series and Mercedes E-Class. With no diesel offering - what most buyers demand in an executive car - it was immediately doomed.
Hyundai launched the Genesis brand as its luxury model, and while it has been successful elsewhere such as the USA and Hyundai's home market of South Korea, it has proved a sales flop in the UK.
Depreciation values have also been eye-watering. A 2017 Genesis is currently listed on Auto Trader for £32,000, a loss of £18,000 on its list price in just a few months.
While further Genesis models are in the pipeline, it isn't clear whether they will be brought to the UK.
Hyundai UK managing director Tony Whitehorn, told Autocar magazine: "The Genesis was never built for a European market, it is not really what is demanded in Europe.
"We brought it in as much just to sample it and see how it goes."
By Ted Welford