[vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”administrator,editor,author,armember”][vc_column][vc_column_text]
Genesis, the luxury arm of automaker Hyundai, stands out from other luxury car brands with its build-to-order and fixed price model.
At Genesis, the luxury brand of Seoul-based automaker Hyundai, they don’t follow the standard buying rules seen at other brands. No discounts or special offers for Genesis customers; vehicles are built to order and fixed price.
“Australians are addicted to discounts and that doesn’t help anyone,” said Jun Heo, general manager of the Genesis brand in Australia, interviewed by the Financial Review. “A discount is not free. The manufacturer’s list price already has a discount component” magyargenerikus.com.
The Genesis Australia general manager explains that it was common for the brand to receive requests for discounts up to $20,000 because a customer would have received a similar offer from a competitor. “It’s like playing with prices“, he adds.
With the most expensive Genisis vehicle at $110,000, a rebate is already applied to the initial price, as Jun Heo explains, while at some competitors, such as Mercedes Benz, it’s common to receive a rebate on a car priced over $200,000.
Over the past several years, the way retail has operated has changed dramatically, and price increases have been seen on a large majority of products, such as wine, books, clothing and entertainment items, in order to apply larger discounts and rebates, loyalty offers and even to hold seasonal sales.
The automotive sector has not escaped the new market requirements, and many car brands have decided to copy this model. However, Genesis has chosen to go against this trend and offer fixed prices, without trying to deceive consumers.
Since the purchase of a luxury car is an important and expensive purchase, Jun Heo believes that it should be as smooth and simple as possible. Customers should be happy with their purchase without feeling cheated, for example, by learning that someone else would have paid less for the same vehicle because they would have received a discount.
“Many customers are willing to wait. What they really want is to have their own customized car. You don’t have to worry about your negotiating skills. If you want to take a car, you take it. If you don’t, that’s fine“, concludes Jun Heo.
A model envied by other car brands
This approach is specific to the Australian branch of Genesis. In South Korea and the United States, Hyundai’s luxury branch uses a dealership model, but the Australian system is about to be joined by China. Due to the success of these new purchasing rules, several car brands have already announced that they intend to do the same.
This is the case of Mercedes-Benz and Honda, which recently announced their switch to fixed prices. Honda plans to start as early as this July, while the Mercedes-Benz brand said it would introduce fixed prices as early as January 1, 2022.
However, Genesis’ model will remain unique in the market because unlike Honda and Mercedes, Hyundai’s luxury brand does not use traditional dealerships to market its cars on an agency model. Genesis favors build-to-order and has very few physical sales outlets polska-ed.com.
As a result, the brand’s inventory is virtually non-existent and Genesis has only two showrooms in Australia (one in Sydney and the other, recently opened, in Melbourne). An additional showroom should be opened soon on the Gold Coast.
For Honda, the reason this model is so successful is because it allows for a “simpler, more seamless experience while eliminating some of the pressures and anxiety that can be associated with the new car buying process“.
Luxury automaker Mercedes-Benz has already begun implementing the Genesis model in Sweden, where the changes are being very well received. Swedish customers are looking forward to identical prices across the country, whether online or in physical sales, and to saying goodbye to “tedious price haggling“.
The high-end electric vehicle brand Tesla already applies fixed prices on its vehicles in Australia and boasts that it can supply its cars directly because they are delivered in batches. This is also an advantage that Honda and Mercedes-Benz brands have, while at Genesis, you have to wait between two and three months after ordering.
“This market is so competitive,” saddens Jun Heo. “It’s a one million car a year industry with 67 brands. Only six to seven brands have 70 percent of the market share. Can you imagine the other 60 brands, how they survive?“.
“We have to recognize our reality. We are latecomers, and building a new brand is very hard work,” Heo adds gehen sie zur webseite. “We are learning and building“.
Read also > TESLA LAUNCHES MODEL S “PLAID”, THE WORLD’S FASTEST PRODUCTION CAR
Featured photo: © Press [/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Genesis, the luxury arm of automaker Hyundai, stands out from other luxury car brands with its build-to-order and fixed price model.
At Genesis, the luxury brand of Seoul-based automaker Hyundai, they don’t follow the standard buying rules seen at other brands. No discounts or special offers for Genesis customers; vehicles are built to order and fixed price.
“Australians are addicted to discounts and that doesn’t help anyone,” said Jun Heo, general manager of the Genesis brand in Australia, interviewed by the Financial Review. “A discount is not free. The manufacturer’s list price already has a discount component“.
[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account ? Please log in.
[/vc_cta][vc_column_text]Featured photo : © Press[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]
Genesis, the luxury arm of automaker Hyundai, stands out from other luxury car brands with its build-to-order and fixed price model.
At Genesis, the luxury brand of Seoul-based automaker Hyundai, they don’t follow the standard buying rules seen at other brands. No discounts or special offers for Genesis customers; vehicles are built to order and fixed price ed-hrvatski.com.
“Australians are addicted to discounts and that doesn’t help anyone,” said Jun Heo, general manager of the Genesis brand in Australia, interviewed by the Financial Review. “A discount is not free. The manufacturer’s list price already has a discount component“.
[…][/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Ftest2023.luxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…
Already have an account ? Please log in.
[/vc_cta][vc_column_text]
Featured photo : © Press[/vc_column_text][/vc_column][/vc_row]
