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Genesis cars win accolades, offer value — so why are sales so bad?

My high-school buddy Brent Cormier was so smitten with the Genesis G80 when he saw it at an event I hosted at SXSW in 2016 he bought a used 2013 Hyundai Genesis a short time later and fell in love with the car. "It surpasses my every expectation," said Cormier, a self-described "renaissance man" who owns and runs a real estate agency with his wife Laura, is a food service executive chef and part owner of Austin-based Thin the Herd Guitars. "I was locked into Mercedes and Audi for 10 years," he added. "And felt trapped in an endless pit of maintenance costs." After owning the Genesis over the past two years — including using it as an Uber and Lyft driver to earn extra cash — Cormier learned what some frugal luxury sedan buyers and a handful of car reviewers have discovered: Genesis offers great bang for the buck compared to other premium brands and can compete with the best in terms of performance, features and comfort. Hyundai's luxury brand also earned a prominent third-party endorsement last week when for the first time Genesis topped J.D. Power's 2018 APEAL study, surpassing German luxury-performance icon Porsche. The APEAL study (which stands for Automotive Performance, Execution and Layout) "measures owners' emotional attachment and level of excitement across 77 attributes," ranging from performance to comfort, and asks nearly 68,000 owners of new 2018 models to score vehicles on a 1,000-point scale. In its second year ranked as a stand-alone brand, Genesis earned an APEAL score that bumped it up 15 points to 884 and helped push it past Porsche — and past BMW, Lincoln, Mercedes-Benz, Audi, Volvo, Cadillac, Land Rover and Lexus, in order of ranking. Last month, Genesis also topped J.D. Power's Initial Quality Survey (IQS) for the first time this year. And both its models were awarded Top Safety Pick Plus ratings by the Insurance Institute for Highway Safety, among 11 Plus ratings in all for Korean vehicles. Despite high J.D. Power rankings and great reviews, Genesis U.S. sales were off 50 percent for the first six months of 2018 compared to 2017, and in June Genesis sold only 796 vehicles — the first time U.S. numbers dropped below 1,000 in a month. Part of Genesis's APEAL and IQS success can be attributed to its small product lineup: just two models, the G80 and G90 sedans, with a third, the 2019 G70, launching later this year. And while those numbers may help in J.D.

Aston Martin confirms Mercedes-AMG boss Moers to replace CEO Palmer

Aston Martin confirmed on Tuesday that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer, who stepped down on Monday. The Financial Times newspaper reported over the weekend that Palmer would step down, before he had been informed. A source familiar with the situation had also confirmed to Reuters the planned move. "The board has determined that now is the time for new leadership to deliver our plans," Lawrence Stroll, Aston Martin Lagonda's Executive Chairman said. The company said Moers, who will be based at its headquarters in Warwickshire, had built a reputation for transforming businesses in tough environments during his 25 years in senior roles at Daimler. Germany's Daimler AG owns a 5% stake in Aston Martin and supplies the carmaker with Mercedes-AMG engines. "Under Tobias’ leadership, Mercedes-AMG has more than doubled its product portfolio and quadrupled the number of AMG units sold, with a clear pipeline of further expansion opportunities, especially in electrification of powertrains in the performance segment," Aston Martin said in a statement. "TobiasÂ’ focus on operating and manufacturing efficiency has delivered significant margin expansion. This strong financial performance was supported by the introduction of a clear brand management strategy, which delivered a measurable increase in brand value and awareness." Aston Martin has seen its share price plummet since floating in October 2018. The 107-year old British luxury carmaker earlier this month posted a deep first-quarter loss after sales dropped by almost a third due to the impact of the novel coronavirus outbreak. "All of my and TobiasÂ’ energy will be dedicated to building on the CompanyÂ’s inherent strengths, its brand, its engineering prowess, and the skills of its people to enable Aston Martin to become one of the pre-eminent luxury car brands in the world," Stroll said. Related video:

Lewis Hamilton needs to step up in his 200th F1 race

LONDON — Lewis Hamilton will start the 200th grand prix of his Formula One career in Belgium this weekend, but the triple world champion has smaller but more significant numbers on his mind. Refreshed from an August break in the Caribbean, including a trip to Cuba in his role as UNICEF ambassador, the Mercedes driver is 14 points behind championship leader Sebastian Vettel as he revs up for the second half of the season. A fifth victory of 2017 for the Briton would put the pressure back on Ferrari's Vettel, and Hamilton can celebrate another milestone by bagging pole position on Saturday at the long and fast Spa-Francorchamps circuit. That would see Hamilton, who sportingly relinquished third place to team mate Valtteri Bottas in Hungary before the summer shutdown, match the record of 68 poles set by Michael Schumacher with Ferrari in 2006. Mercedes has won the last two Belgian Grands Prix, with now-retired 2016 world champion Nico Rosberg triumphant from pole last year after Hamilton won in 2015. Nobody will be taking anything for granted, however, after Ferrari's one-two win in Budapest at the end of July. "On paper, people will assume that Spa should suit our car because it is a circuit where aerodynamic efficiency is extremely important," Mercedes team boss Toto Wolff said. "But assumptions are dangerous — we have seen too many times already this season that the form book can be rewritten from one weekend to the next. So we will be making no assumptions." Hamilton has won twice before at Spa, as has Vettel, but the track — a classic blast from the past — has not been particularly kind to him. In 2008, when he won his first title, the Briton was demoted from first to third after the race for cutting a chicane, with then Ferrari rival Felipe Massa savoring victory instead. Spa can often be a lottery, with its capricious weather, and rain could be a boon for Red Bull's Belgian-born Dutch teenager Max Verstappen, who can count on plenty of local support in what amounts to a home race. "I just love the track and it'll be nice seeing so many orange (Dutch) fans in the grandstands," he said. "Spa is my favorite track of the year. You have to get everything right but when you get a good lap it's very rewarding." Belgium could also be good for Ferrari's Kimi Raikkonen, who arrives with a new contract for 2018 in his pocket.