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While the Genesis G70 has proven to be a worthy competitor for the segment-dominating BMW 3-Series, it appears that the brand has decided to halt development for a second generation. The project, codenamed RN2, was supposed to create an all-electric successor to the G70, but now a Korean report suggests that an announcement was made within the company regarding the project's cancellation.
"Recently, there was an official announcement within the company that it officially halted the development of RN2, a project name for the next G70," a source told the Korean publication.
The source also said that the all-electric G70 would have been "much bigger than the current model," causing overlap with the company's best-selling sedan, the G80. Without much differentiation between the two sedans, and with the G80 already offering an electric variant of its own, Hyundai decided to pull the plug on the next-generation G70.
Another factor that may have killed the G70 is its increasingly slow sales. Despite offering a similar package to the BMW 3-Series but with a more affordable price tag, sales for the G70 have fallen flat since its best year in 2019. While 16,975 examples were sold in Korea that year, only 6,087 found owners in 2022. The story is even worse in Europe, where a dismal 96 units were sold in 2022.
When the Genesis G70 first rolled into the spotlight in 2017, it was the third model from the young luxury brand. Much like the mechanically-related Kia Stinger, which also happens to be on the chopping block, the G70 quickly garnered a large fanbase, and even brought home MotorTrend's 2019 Car of the Year award. With the sedan receiving its mid-cycle refresh fairly recently in 2022, the G70 may have at least a couple more years left. But once time runs out for its current generation, Genesis's smallest sedan likely won't be returning.
Would you miss the Genesis G70?
Image Credits: Genesis
Report
Aug 3, 2023
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Genesis Might Have Cancelled Plans For A Second-Generation G70 Sedan
The G70's all-electric successor was said to cause overlap with the larger G80.
While the Genesis G70 has proven to be a worthy competitor for the segment-dominating BMW 3-Series, it appears that the brand has decided to halt development for a second generation. The project, codenamed RN2, was supposed to create an all-electric successor to the G70, but now a Korean report suggests that an announcement was made within the company regarding the project's cancellation.
"Recently, there was an official announcement within the company that it officially halted the development of RN2, a project name for the next G70," a source told the Korean publication.
The source also said that the all-electric G70 would have been "much bigger than the current model," causing overlap with the company's best-selling sedan, the G80. Without much differentiation between the two sedans, and with the G80 already offering an electric variant of its own, Hyundai decided to pull the plug on the next-generation G70.
Another factor that may have killed the G70 is its increasingly slow sales. Despite offering a similar package to the BMW 3-Series but with a more affordable price tag, sales for the G70 have fallen flat since its best year in 2019. While 16,975 examples were sold in Korea that year, only 6,087 found owners in 2022. The story is even worse in Europe, where a dismal 96 units were sold in 2022.
When the Genesis G70 first rolled into the spotlight in 2017, it was the third model from the young luxury brand. Much like the mechanically-related Kia Stinger, which also happens to be on the chopping block, the G70 quickly garnered a large fanbase, and even brought home MotorTrend's 2019 Car of the Year award. With the sedan receiving its mid-cycle refresh fairly recently in 2022, the G70 may have at least a couple more years left. But once time runs out for its current generation, Genesis's smallest sedan likely won't be returning.
Would you miss the Genesis G70?
Image Credits: Genesis
