Genesis Reaches 1 million Global Sales Milestone After 8 Years

First Up 09/19/23

Genesis Reaches 1 million Global Sales Milestone After 8 Years

Genesis has proudly declared that it has blown past the 1 million mark in global sales. The Korean luxury brand, established in November 2015 as Hyundai’s upscale offspring, had its origins as a Hyundai concept car in 2003 before becoming a luxury four-door rear- or all-wheel drive sedan within the mainstream brand in 2008. Since 2021, they’ve been consistently adding over 200,000 to their cumulative global sales every year, and they’ve got their luxury sedans and SUVs to thank for it. According to Carscoops, the company commenced car sales in its domestic Korean market before extending its operations to encompass North America, Europe, China, Australia, Russia, and the Middle East, totaling 17 markets. As of August 2023, Genesis announced a global cumulative sales figure of 1,008,804 vehicles. Notably, the Korean market accounted for the majority with 690,177 units, while overseas markets contributed an additional 318,627 units, pushing global sales into the six-figure range. It’s worth noting that the brand achieved the half-million sales milestone in May 2021, highlighting its significant progress over the past two years. Click here for the full story.

In EV Battle, Toyota Bets on New Technology and Old-School Thinking

At factories in Japan's industrial heartland, Toyota has turned to self-propelled assembly lines, massive die casting and even old-fashioned hand polishing as it aims to make up for lost ground in battery electric vehicles. The world's top-selling automaker believes it can close the gap with Tesla and others by combining new technology with the famous lean production methods it has used for decades to wring inefficiency, including excess costs, out of manufacturing. According to Reuters, the automaker gave a glimpse of its latest advances at a plant tour in central Japan last week, some for the first time. It also showed off examples of thrifty ingenuity, such as a technique to make high-gloss bumpers without any paint. The mold is hand polished to a mirror finish, giving the bumper its lustre. Elsewhere, three-decade-old equipment used to process parts can now be run at night and on weekends after being automated through robotics and 3D modeling, improvements Toyota said had trebled equipment productivity. "The strength of Toyota's manufacturing lies in our ability to respond to changing times," Chief Product Officer Kazuaki Shingo told reporters on the tour. Click here for the full story.

America Passed the EV ‘Tipping Point’ — But Many Buyers Still Want Gas

There is a theoretical, magic tipping point for adoption of electric vehicles. Once somewhere between 5 and 10 percent of new car sales are all-electric, some researchers say, huge numbers of drivers will follow. They predict that electric car sales will then soar — to 25 percent, 50 percent and eventually to close to 80 percent of new sales. According to The Washington Post, early adopters who love shiny new technologies will be replaced by mainstream consumers just looking for a good deal. Last year, the United States finally passed that elusive mark — 5 percent of all new cars sold in the fourth quarter were fully electric. And earlier this year, all-electric vehicles made up about 7 percent of new car sales. But even as the nation’s EV market appears to be teetering on the edge of an electric takeover, a hesitant American public — and a still-subpar charging infrastructure — could still hold the country back. A Washington Post-University of Maryland poll shows the current limits of U.S. enthusiasm for the new vehicles, with nearly half of adults (46 percent) saying they prefer to own a gas-powered car or truck. Click here for the full story.

Mercedes-AMG Previews High-Powered GT Plug-in Hybrid

Mercedes-AMG previews a plug-in hybrid version of its second-generation GT with the unveiling of a lightly veiled prototype of the electrified coupe at the 2023 Munich auto show in Germany. Displayed as part of a presentation of new and upcoming Mercedes-Benz models, the GT model is set to launch as a sportier, 2-door alternative to the GT 63 S E Performance 4-door coupe sedan. Underneath its vibrant black and red body wrap, the unidentified GT prototype appears identical to the GT63 4Matic+ coupe revealed at the Monterey Car Week in California last month, except for one telltale detail: a charging port flap on the right-hand side of the rear bumper. According to Wards, nothing is official just yet, though the über-GT is claimed to receive a new gasoline-electric plug-in hybrid drivetrain that mates the twin-turbocharged 4.0L V-8 from the GT63 4Matic+ together with a rear-axle-mounted electric motor and lithium-ion battery. The output of the electric motor and the capacity of the battery remain under wraps. However, a similarly conceived setup provides the GT63 S 4-door Coupe E Performance sedan with 831 hp and up to 1,031 lb.-ft. of torque. Click here for the full story.

Minivans Aren’t as Safe as You Think, Study Claims

A new round of crash testing by the Insurance Institute for Highway Safety holds concerning news for those driving minivans. When put though the new moderate overlap front crash test, which now places more emphasis on back seat safety, none of the four minivans tested — the Chrysler Pacifica, Kia Carnival, Toyota Sienna, and Honda Odyssey — earned an acceptable or good rating. The agency rates the Chrysler Pacifica, Kia Carnival, and Toyota Sienna as marginal, while the Honda Odyssey is rated poor. Even worse, only the Sienna has a seat belt reminder for the second-row seats, reports The Detroit Bureau. The front seat of all four minivans offers good protection. But when it comes to the second row, each one suffers from a variety of problems, according to the IIHS. After studies revealed the risk of a fatal injury is now higher for belted occupants in the second row than for those in the front, IIHS introduced an updated moderate overlap front test last year. The front seat is now safer than the second row due to upgraded airbags and modern seat belts that are rarely offered in the back. Click here for the full story.


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