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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.

Lexus parts prices cut in China amidst antitrust fears

It's been a topsy-turvy summer for foreign businesses in China ever since that country's National Development and Reform Commission and State Administration for Industry & Commerce launched a horde of investigations into anti-monopoly practices. When the law outlining monopolistic behavior was passed in 2008 foreign companies appreciated it, expecting it to illuminate some of the more opaque corners of Chinese government enforcement. That hasn't exactly been the case, and now as more than 1,000 auto-sector firms get investigated and pay huge fines to settle the nebulous charge of having prices that are too high, that hoped-for clarity is all but gone.
A recent news report said Audi, Chrysler and Daimler "would be punished for unspecified violations" concerning the prices of spare parts. Earlier this month Toyota said that Lexus China was being looked at, and before there's been any public notification of punishment Lexus has decided to lower the price of its replacement parts. From next month, customers will save an average of 26 percent on roughly 15,000 parts. It's unknown whether the move will appease authorities enough to end the investigation, which outside analysts have said targets foreign firms in China over domestic industry.

Lexus recalling 3,000 NX 200t CUVs for faulty brake system part

Lexus is recalling about 3,000 examples of the 2015 NX 200t in the US because of possible damage to the ABS actuator during assembly. On vehicles with the faulty part, the anti-lock brakes, traction control and stability control might not function properly. If the ABS is activated while driving, it could cause "a loss of vehicle stability," according to the company. No crashes, injuries, or fatalities have been reported. According to company spokesperson Cindy Knight to Autoblog, affected owners will receive notification by mail of this problem in early July. Dealers will inspect the actuator on the NX200t and will replace it, if necessary. Related Video: LEXUS RECALLS CERTAIN MODEL YEAR 2015 NX VEHICLES TORRANCE, Calif., May 27, 2015 – Toyota Motor Sales, U.S.A., Inc. today announced that it is conducting a safety recall of approximately 3,000 model year 2015 Lexus NX 200t vehicles. The involved vehicles are equipped with an Anti-Lock Braking system (ABS), Traction Control System (TRAC), and Vehicle Stability Control System (VSC) which are controlled by the ABS actuator. There is a possibility that a component inside the actuator could be damaged during assembly and later not operate properly. Under some driving conditions, if the ABS is activated, this could cause a loss of vehicle stability, which can increase the risk of a crash. To date, Toyota is not aware of any crashes, injuries or fatalities caused by this condition. All known owners of the involved Lexus vehicles will be notified by first class mail. Lexus dealers will inspect the ABS actuator and if necessary replace it with a new one. Information about automotive recalls, including but not limited to the list of involved vehicles, is subject to change over time. For the most up-do-date recall information, customers should contact Toyota Customer Service at 1-800-331-4331, or Lexus Customer Service at 1-800-255-3987. Customers can also access current information on open safety recalls for their vehicles by visiting www.toyota.com/recall or http://www.safercar.gov/ and entering their Vehicle Identification Number (VIN). ###