Hyundai, Genesis Warning Dealers About Markups

With dealers having spent the last 12 months placing egregious markups on automobiles, it has become a seller’s market, to say the least. New vehicle transactions are currently averaging $6,000 more than they would have been in the previous annum. But prices had already climbed by $3,000 (year-over-year) in 2020 due to production shortfalls, encouraging fleet managers to scoop up every used vehicle they could find until secondhand cars became likewise overpriced.

It’s an abysmal situation for consumers and automakers have begun to realize they’ll be getting blamed if something isn’t done. As a result, we’ve started to see manufacturers publicly chiding showrooms for placing lofty “market adjustments” on new automobiles. Ford Motor Co. and General Motors have both made formal declarations that they’ll be penalizing dealers who issue ludicrous markups on products wearing their emblems, with Hyundai Motor Group issuing similar threats to greedy retailers this week.

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2022 Genesis G70 Redefined by Refresh

Genesis has predictably brought the G70 onboard with the rest of its lineup’s familial styling. Fortunately, the look the company has gone for has successfully merged disparate concepts by being both spectacular and incredibly tasteful. While your author would have argued that prior Genesis models had aped German exteriors so effectively that they might actually be beating Deutschland at its own game, the new designs only serve extend its advantage. It seems as though everything Hyundai Motor Group touches these days can’t help but have a stunning exterior and it’s true from the sub-$25,000 Kia K5 right on up to the $72,000 Genesis G90.

Quad lamps (front and rear) are now the hallmark of Genesis Motor and have finally been affixed to the G70, giving it a more refined and luxury-focused appearance. It’s also quite unique across the industry and helps distinguish the Korean brand from other nameplates at a distance. While many (including your author) enjoyed the sporting musculature on the current model, 2022 will be a more opulent affair better suited to the frugal fanciness the Genesis has become synonymous with.

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