Price hikes for 2024 Genesis GV70 and GV80
Diesel engines axed for luxury brand’s top-selling GV70 medium SUV as GV80 large SUV ditches 2.5 turbo-petrol millPrices for the incoming 2024 Genesis GV70 and GV80 have gone up despite equipment levels remaining unchanged.
The 2024 model year Genesis GV70 mid-size luxury SUV and Genesis GV80 large luxury SUV will be $2000 more expensive than their identical predecessors from September 1, 2023.
Hyundai’s luxury sister brand says the price hikes are due to “increased manufacturing and transport costs” and Genesis has also condensed the model range, axing one engine type from both the GV70 and GV80 model line-ups.
The GV70 is the Korean prestige brand’s top-seller and it will now be offered without a 2.2-litre turbo-diesel engine, while the second most popular Genesis, the GV80, will go without its entry-level 2.5-litre turbo-petrol powerplant.
Despite remaining on sale overseas, the four-cylinder engine types have been axed locally due to slow sales and also “as a step towards electrification of the Genesis range”, says the car-maker, which plans to go all-electric by 2025.
As such, pricing for the GV70 Electric Performance AWD has dropped by $1350, to $126,475 plus ORCs.
Going forward, the GV70 will be offered with either a 2.5-litre turbo-petrol four-cylinder engine, a 3.5-litre twin-turbo petrol V6 or a dual-motor EV powertrain.
The GV80 can be paired with a grunty 3.0-litre turbo-diesel inline six-cylinder engine or a 3.5-litre twin-turbo petrol V6.
Customers who have already placed orders for the Korean luxury cars have a price guarantee and won’t be stung the extra $2000 or so, and existing orders for the axed engine types will be honoured.
Customers who place orders for combustion-powered GV70 and GV80 vehicles after September 1 will pay the higher prices.
How much does the 2024 Genesis GV70 cost?
2.5T RWD petrol – $70,500 (+$2000)
2.5T AWD petrol – $72,900 (+$2000)
3.5T AWD Sport petrol – $85,100 (+$2030)
Electric Performance AWD – $126,475 (-$1325)
How much does the 2024 Genesis GV80 cost?
3.0D AWD diesel – $105,700 (+$2030)
3.5T AWD petrol – $110,200 (+$2030)
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