Genesis reshuffles GV70, GV80 line-up

BY MATT BROGAN | 22nd Aug 2023

GENESIS has announced changes to its MY24 GV70 and GV80 SUV range with a price increase of between $2000 and $2300 now applicable to all variants.

The South Korean importer has also discontinued the 2.2-litre four-cylinder turbo-diesel engine from the GV70 range, and the 2.5-litre four-cylinder turbo-petrol engine from the GV80 range.

Electrified GV70 variants are reduced in price owing to recent LCT adjustments (see table below).

Genesis Australia says the price increase comes in light in increased manufacturing and transportations costs and that the model year change rationalises the slow selling line-up to reduce complexity…

There is no other change in specification to either range, which is now priced from $70,500 plus on-road costs for the GV70 and $90,670 +ORC for the GV80.

Any orders placed from September 1 onwards will be at the new price point meaning potential customers have until the end of the month to save $2000.

All existing customer orders are secured at 2023 pricing – even if delivery falls after September 1 – and existing customer orders for 2.2D and 2.5T variants will be fulfilled, Genesis says.

“As a step towards electrification of the Genesis range the 2.2L Diesel from GV70 and the 2.5T Turbocharged petrol variants from GV80 have been discontinued,” Genesis Australia said in a statement.

GoAuto notes that the deleted variants remain available in other markets.

Optional equipment pricing remains largely unchanged for both the GV70 and GV80.

For the GV70 we find the Luxury Package priced at $11,500 for all variants bar the flagship 3.5T AWD Sport at $7100. Sport Line and Luxury Packages are $13,500 on all variants excluding the 3.5T AWD Sport (not available), while the Sport Line Package is $3500 on all variants, again excluding the 3.5T AWD Sport, on which it is standard.

Matte paint attracts a $2000 price premium on all GV70 variants.

For the larger GV80, the option bundles are easier to place. The Luxury Package costs an additional $10,500 on all variants and the Six Seat Package $13,500 on all variants. Matte paint again attracts a $2000 price premium on all GV80 variants.

The Genesis GV70, which competes in the Medium SUV over $60K segment locally, vies with the Audi Q5, BMW X3, Lexus NX and Mercedes-Benz GLC for market attention, but has so far garnered little.

Year-to-date sales (effective August 3) show Genesis has sold just 634 examples of the GV70 against 2630 Audi Q5s, 2277 BMW X3s, 3425 Lexus NXs, and 1691 Mercedes-Benz GLC wagons.

The larger Genesis GV80, which participates in the Large SUV over $70K segment, rivals the Audi Q7, BMW X5, Lexus RX and Mercedes-Benz GLE.

Genesis has sold just 208 examples of the GV80 to date in 2023, well behind the Audi Q7 (1043 units), BMW X5 (2105 units), Lexus RX (2157 units) and Mercedes-Benz GLE wagon (1726 units).

2024 Genesis GV70 pricing*: