The sales of the Genesis G70 have fallen so low that the automaker decided to cancel the work on a new generation, reports Korea Joonang Daily.
According to sources inside the company, the next design iteration of the sedan was internally known as ‘RN2’ and was already in development. Not long ago, however, the employees were officially informed that the new G70 was being canceled without a successor – not even an electric one.
One of the reasons quoted by the insiders is that it was being built on a new platform and was shaping up larger than the previous generation. As such, it could end up cannibalizing the sales of the larger Genesis G80. Furthermore, with SUVs and crossovers still on the upward trend all over the world, adding a third saloon to the lineup was deemed excessive.
The original G70 came out six years ago. It had sold 4,345 units on the domestic market in the four remaining months of 2017. The sales were best in 2019 with 16,975 units sold nationwide, but the demand proceeded to plummet to 7,910 units in 2020 and has only continued to decline since then.
