Sorry for Cursing, “How Dare Some Korean Car”… When You Make Money It’s a Mercedes, When You Get Your Stars It’s a Genesis

Genesis Lives Up to Its Name After 10 Years of ‘Success’ — Genesis G80 Gets Revenge on Mercedes-Benz and BMW That Once Hurt the Brand, Stakes Its Honor and Future in a Do-or-Die Battle, MBTI Analysis Says the Secret Is ‘ESFP’

사진 확대 Old vs. new Genesis G80 models [Photo source: Hyundai Motor Company / Editing: Choi Ki-sung, Maeil Business Newspaper Digital Newsroom]

Ten years ago, I had no idea.

I wanted it to succeed because it was a Korean car brand, but to be honest, I had my doubts.

Hyundai Motor Company and Kia Corporation had built a global presence in the mass-market segment by emphasizing value for money, but the premium and luxury space was a different story.

Within five years, that skepticism turned into anticipation. I began to think, “Maybe Korean cars really can pull this off.”

Another five years later, that anticipation became conviction. We reached the point where people could say, “Korean cars have done it.”

I am talking about Genesis. When the brand launched in November 2015, it set off amid sneers like, “How dare some cheap Korean car like that.”

The criticism at home was even harsher than abroad. It always hurts more when your own family curses you, and the line “If Genesis is luxury, then a fly is an eagle” also came from Korea.

Ten years on, Genesis now overwhelms Mercedes-Benz and BMW, the two pillars of premium brands in the Korean market.

In the global market as well, it is increasingly recognized as a brand that can stand toe-to-toe with Mercedes-Benz and BMW.

사진 확대 BMW 5 Series (left) and Mercedes-Benz E-Class, the flagship premium models in the imported car market [Photo source: BMW, Mercedes-Benz / Editing: Choi Ki-sung, Maeil Business Newspaper Digital Newsroom]

Is there evidence? There is. Just look at the report card.

According to Hyundai Motor Group on the 16th, Genesis sold only 384 units in 2015, its first year as a standalone brand. By 2020, sales had surged to 132,450 units. For the first time, annual global sales topped 100,000 units, and the brand’s presence became clear.

More than 200,000 units were sold in 2021 and over 210,000 in 2022, followed by 220,000 units in 2023. Cumulative sales surpassed 1 million units in August 2023 and reached 1.5 million by November last year.

Domestic sales alone set the milestone of surpassing 1 million units. As of the end of March this year, the total stood at 1,002,998 units.

The best-selling model is the Genesis G80. As the model that announced the birth of the Genesis brand, it wiped away the earlier mockery of being a “knockoff Lexus.”

It went further and seized control of the domestic premium market, effectively getting revenge on the Mercedes-Benz E-Class and BMW 5 Series that had long been a source of pain for Hyundai Motor Group.

According to the KAIZU Data Research Institute, which uses automobile statistics from MOLIT, 41,485 units of the Genesis G80 were sold in Korea last year.

Competing models, the Mercedes-Benz E-Class and BMW 5 Series, sold 28,722 and 23,876 units respectively.

Before 2016, the Genesis G80 was overshadowed by the Mercedes-Benz E-Class and BMW 5 Series and had little presence.

The first-generation Genesis (BH) debuted in 2008, and the second-generation Genesis (DH) followed in 2013. Yet even in its home market, it was completely outclassed by Mercedes-Benz and BMW.

사진 확대 Genesis DH, which once lagged behind the Mercedes-Benz E-Class [Photo source: Hyundai Motor Company]

Things changed after Genesis spun off from Hyundai Motor Company in 2015 and launched as a premium brand, with the model reborn as the Genesis G80.

Sales increased every year, and in 2020 the Genesis G80 finally overtook the Mercedes-Benz E-Class, the long-time No. 1 imported car in Korea, to become the top-selling premium model in the domestic market.

That year, sales reached 54,946 units, a 142.9% jump from 22,625 units the previous year. Meanwhile, the Mercedes-Benz E-Class, which had been a source of frustration for the Genesis G80 through 2019, fell to 33,642 units.

Since then, the Genesis G80 has not relinquished its position as the No. 1 premium model in the Korean market.

What, then, is the secret that allowed Genesis to establish itself as a premium and luxury brand in just a decade?

When I analyzed it through the Myers-Briggs Type Indicator (MBTI), it came out as ESFJ personality type (ESFJ) and ESFP personality type.

◆ E = Executive

사진 확대 Old vs. new Genesis G80 models [Photo source: Hyundai Motor Company / Editing: Choi Ki-sung, Maeil Business Newspaper Digital Newsroom]

The Genesis G80, like the Mercedes-Benz E-Class, BMW 5 Series and Audi A6, belongs to the E-segment of executive cars.

This segment is one of the most fiercely contested battlegrounds in the global auto market.

E-segment models sell in higher volumes than the larger F-segment luxury cars, which are more opulent but out of reach unless you are truly wealthy. They play a central role in shaping a brand’s image.

They pull up the A-segment, B-segment, C-segment and D-segment lineups and also push the F-segment from behind.

To command the overall market and raise brand awareness, you have to dominate the E-segment, the “middle kingdom” of automobiles.

It is only natural that car brands stake their survival on the E-segment and invest heavily in the psychological and social image that these models project.

In Korea, the E-segment is like the “Premier League” of the market. In the imported car league, Mercedes-Benz and BMW wage a do-or-die battle with the E-Class and 5 Series respectively at the forefront. They believe not only brand honor but their very fate is on the line.

The Genesis G80 is now the leader of the domestic E-segment market. Its sales figures prove it.

Leveraging the strong competitiveness it honed through trial and error in Korea, which many imported brands treat as a “test market,” the Genesis G80 is also targeting the global E-segment.

Cumulative sales of the Genesis G80, including its electric variant, stand at 422,589 units, accounting for 42.1% of total Genesis sales.

The brand’s first SUV, the Genesis GV80, follows with 189,485 units (18.9%), and the Genesis GV70, including its electric version, with 182,131 units (18.2%). The Genesis G90 is next with 130,998 units (13.1%).

In the global market, one out of every three Genesis vehicles sold is a Genesis G80.

As of November last year, the model had sold 501,517 units worldwide. It became the first Genesis model to surpass the 500,000-unit mark.

The Genesis GV70 followed with 337,457 units, and the Genesis GV80 with 322,214 units.

◆ S = Success, Star

사진 확대 Genesis G80 [Photo by Choi Ki-sung, Maeil Business Newspaper Digital Newsroom]

In the context of the E-segment, “executive” implies management, senior positions and high status.

The E-segment is widely regarded as the lower boundary of what a “successful professional” can comfortably own as an owner-driven car.

You cannot talk about the Genesis G80 without talking about “success.” In Korea, the Genesis G80 has inherited the success image long associated with the Hyundai Grandeur.

The Hyundai Grandeur still carries a strong success image, but the Genesis G80 has secured an image of “even greater success.”

This is a personal view, but I see a subtle difference in the type of success. Mercedes-Benz is relatively more associated with “financial success,” while Genesis is popular for symbolizing “social success.”

That is because it has become the default executive car for those who earn higher “stars” in the corporate hierarchy.

At large corporations, executives with one star typically ride a Hyundai Grandeur or Kia K8. When they are promoted to two or three stars, they usually move up to a Genesis G80. Hence the saying, “If you make money, you buy a Mercedes-Benz; if you earn your stars, you ride a Genesis.”

Of course, there are many cases where people buy Genesis models after achieving financial success, or receive a Mercedes-Benz as a company car after being promoted to an executive role.

Nor is it the case that you must drive only these models if you are successful. Many also choose the BMW 5 Series or 7 Series, Audi A7 or A8, Lexus ES, Volvo S90, Porsche Panamera and other models. And it is not as if you cannot buy them unless you are successful.

Still, the “success” image has enhanced the value of both the Genesis G80 and the Mercedes-Benz E-Class. It has given them an image advantage that is hard for rival brands and models to catch up with, even if they improve price, performance and quality.

Today, the Genesis G80 is widely seen as a car that makes people say not “You must be making a lot of money” but rather “You’ve really made it.”

You can see this from the share of corporate fleet sales.

According to the KAIZU Data Research Institute, corporate and business buyers accounted for 44.6% of Genesis G80 purchases last year. In the first quarter of this year (January to March), that share rose to 51.4%, exceeding the share of private buyers.

For the Mercedes-Benz E-Class, which is also known for a high share of corporate sales among imported cars, the figures were 39.8% and 36.8% respectively.

The fact that the Genesis G80 has frequently appeared as an official state vehicle at events such as the 2022 G20 Bali summit, the APEC Economic Leaders’ Meeting (APEC Summit) and the Korea-Africa Summit has also reinforced its success image.

◆ F = Father, Family

사진 확대 Second-row seats of the Genesis G80 [Photo source: Hyundai Motor Company]

Fathers and families have also played a big role in the Genesis G80’s sales success. The Genesis G80 is not only an executive car; it is also hugely popular as a dad’s car, which in Korea usually means a family car.

In Korea, the largest and most influential consumer group is people in their 40s to 60s. They dominate the market for dad cars.

According to Statistics Korea, as of 2023 there were 6.03 million people born in the 1950s (11.7%), 8.51 million born in the 1960s (16.5%), 8.28 million born in the 1970s (16.1%), 7.05 million born in the 1980s (13.7%) and 6.79 million born in the 1990s (13.2%).

The Baby Boom Generation of the 1960s is the largest cohort, followed by those born in the 1970s, who are Generation X, and those born in the 1980s, which includes part of the Millennial generation.

Income is highest among people in their 50s, followed by those in their 60s and then those in their 40s.

According to the 2024 Trend Report released by Woori Financial Group, Generation X has the highest average monthly income at 6.24 million won.

The Baby Boom Generation (born 1955–1969) and the Millennial generation (born 1980–1994) follow at 5.06 million won each. Generation Z (Gen Z), born 1995–2004, comes in at 2.93 million won.

With both large numbers and high earnings, people in their 40s to 60s are the most influential generation in the car market. And they are the ones who favor the Genesis G80.

This is based on an analysis by the KAIZU Data Research Institute of individual buyers, excluding corporate purchases, by gender and age group.

Last year, 76.5% of Genesis G80 buyers were men and 23.5% were women.

By age group, buyers in their 40s to 60s showed a clear preference for the Genesis G80. Those in their 50s accounted for the largest share at 37.4%.

They were followed by those in their 60s at 26.1% and those in their 40s at 21%. Buyers in their 20s accounted for 1.5%, those in their 30s for 7.5% and those in their 70s for 6.6%.

◆ J = Joy, P = Prestige

사진 확대 Genesis G80 Black Edition in black, a color symbolizing success and authority [Photo source: Hyundai Motor Company]

As a flagship E-segment model symbolizing success, the Genesis G80 brings joy and satisfaction to its owners. On the flip side, it also stirs up jealousy in others.

That mix of joy and jealousy has imprinted the Genesis G80 in people’s minds as the car you drive when you have made it, and the car that fuels the desire to succeed.

For most people, a car is the second most expensive asset after a home. When buying an expensive product, like a luxury handbag, people are often drawn less by personal preference and more by how much it will enhance their image and how others will see it.

As a result, the influence of widely recognized premium brands and products grows, and their sales naturally increase.

This is the bandwagon effect, where demand rises as more people consume a particular high-end product.

There is also the Panoplie effect, where people believe that buying a Genesis G80 will raise their own value and dignity, or that others will regard them more highly.

Thanks in part to the Panoplie effect, the Genesis G80 has climbed from being merely a premium model to a luxury sedan approaching true prestige status.

It has also earned strong reviews overseas. When the third-generation Genesis G80 was launched in 2020, it was recognized in the United States as a luxury sedan capable of competing on equal footing with the German trio of premium sedans: the Mercedes-Benz E-Class, BMW 5 Series and Audi A6.

Jalopnik ran the bold headline, “The ridiculously gorgeous new Genesis G80,” while MotorTrend introduced it under the title, “Meet the best new luxury sedan.”

※ Side note: The MBTI of the Genesis G80 is ESFJ and ESFP. Both types are said to be highly extroverted, sociable and fond of recognition from others. ESFJ, being well adapted to society, is also described as having above-average income. ESFP personality type is known for excelling at dealing with people and things and for creating a bright, fun atmosphere in organizations and communities. Of course, you can take it or leave it.

This article has been translated by GripLabs Mingo AI.

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