Genesis is axing the diesel-powered GV70 for 2024, leaving only petrol and electric models.
All petrol models are getting a $2000 price hike and no specification changes. The Korean luxury brand hasn’t yet announced changes for the related 2024 Electrified GV70.
The brand says the price increase is due to increased manufacturing and transport costs.
Any orders placed from September 1, 2023 onwards will be at 2024 pricing, though orders placed before that date are price-protected – even if the delivery takes place after September 1.
The brand says it has axed the 2.2D to “reduce complexity” and “as a step towards electrification of the Genesis range”.
The 2.2D accounted for less than five per cent of GV70 sales.
Genesis will continue to offer turbocharged 2.5-litre four-cylinder and twin-turbocharged 3.5-litre V6 engines in the GV70, even though the 2.5T is getting the axe from the GV80.
While it hasn’t announced the demise of the larger GV80 diesel for MY24, reports out of Korea indicate that oiler is also on its way out as sales of the engine slow in its home market.
The brand intends to sell only electric vehicles from 2030 onwards, and has previously indicated it won’t launch any new combustion-powered vehicles beyond 2025.
The GV70, which arrived here in 2021, is the brand’s best-seller in Australia, with 499 sold during 2022 – 44 of those being Electrified GV70s, which means that variant has been outselling the cheaper diesel.
By the end of July 2023, the GV70 has already well and truly exceeded its calendar year 2022 sales. It sold 634 to the end of July 2023, a jump of 103.2 per cent.
That means the BMW X3 rival is outselling every other Genesis model combined. It has also managed to outsell the Alfa Romeo Stelvio (101 sales), BMW X4 (463 sales), and Maserati Grecale (278 sales).
Pricing
- 2024 Genesis GV70 2.5T RWD: $70,500 (+$2000)
- 2024 Genesis GV70 2.5T AWD: $72,900 (+$2000)
- 2024 Genesis GV70 3.5T AWD Sport: $85,100 (+$2030)
Prices exclude on-road costs.
The following options remain available:
- Luxury Package: $11,500, or $7100 on the 3.5T AWD Sport
- Sport Line + Luxury Package: $13,500 (2.5T)
- Sport Line Package: $4500 (2.5T)
- Matte paint: $2000
The outgoing MY23 2.2D can also be ordered with the Sport Line and Sport Line + Luxury packages.
MORE: Everything Genesis GV70
