Hyundai's Genesis is doing well in the U.S., but tariffs will be an issue in the future - South Korea

Hyundai Motor's luxury brand Genesis' global sales volume in 2024 will reach 229,532 units, up 1.9% from the previous year.
Sales in the US market are particularly strong. In the US, sales are expected to grow from 6,948 units in 2015 to 75,003 units in 2024.
This has grown rapidly over the past five years, with Genesis' share of the company's U.S. market sales rising by more than 10 percentage points from 12.4% in 2020 to 32.7% in 2024.
In addition to the sharp increase in sales, the won-dollar exchange rate is expected to reach mid- to high-1,400 won (approximately 143 yen) in the October-December 2024 period, which will increase Hyundai Motor's overseas passenger car sales costs.
However, the price has increased by about 10% to 70 million won (about 7.19 million yen), which has had an effect. The problem is the US tariffs that are scheduled to start in April. Genesis produced in the US
The number of vehicles produced in Korea is about 24,000, while more than 50,000 are produced in Korea and exported. At present, no tariffs are imposed due to the US-Korea Free Trade Agreement (FTA), but if tariffs are imposed, the price will be
Moon Hak-hoon, a professor at Osan University's Department of Automotive Engineering, said of the tariff countermeasures, "We will increase local production through discussions with the labor union, and the shortage will be covered by the imposition of tariffs.
"We should use marketing to capitalize on this."