Genesis will disappear as an independent marque from January 2024, where the luxury brand will be rolled in with parent company Hyundai. Read on for all you need to know.
Luxury car brand Genesis will no longer be a standalone company in the UK from January 2024 after parent company Hyundai took the decision to merge it into the Hyundai operation. The full range of cars will still be available, as will after sales service, but it ends the desire to establish Genesis as an independent marque in the UK.
A statement from Genesis read: “The strategic integration of Genesis Motor UK and Hyundai Motor UK represents a forward-thinking approach to business optimization and synergy creation. This move will harness Hyundai’s established and robust business network and sales infrastructure in the United Kingdom, enabling Genesis to broaden its market reach and enhance its presence in the luxury segment..”
Genesis came to the UK in 2021, when it launched with no dealer network. The business sold cars directly to customers online, with studios opening in shopping centres for people to come and see the cars.
In March of this year, the brand announced that it would be opening physical dealerships after all. These plans should still be going ahead after Genesis merges with Hyundai.
As far as customers are concerned, it’s business as usual for the Korean premium marque. You’ll still be able to buy a new Genesis online, or at a dealer from 2024. The change of structure will only be felt, initially at least, in the back-end of the business.
According to reports from Car Dealer, all staff at Genesis are on redundancy consultation, with as many as 83 jobs believed to be at risk. Staff will remain employed by the brand until January 2024.
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