Hyundai Motor decided to increase its production of New Genesis which is enjoying robust sales.
Hyundai Motor started exporting New Genesis to North America from late April and, thereafter, supply failed to the rising demand there, with stand-by demand reaching 6,000 units.
On June 11, labor and management at Hyundai Motor reached an agreement to increase the 5th Ulsan factory’s per-hour production volume of New Genesis from the current 20 to 25. The 5th Ulsan factory’s annual production volume, accordingly, will expand from the current 88,000 units to 110,000 units.
The monthly production of Genesis will also increase up to more than 5,000 units from 4,000 units.
Hyundai Motor officials said, “The expansion of production volume will start in earnest from the middle of this month. We could increase Genesis production volume further by adjusting the production volume of Equus.”
Domestic sales of 2G New Genesis, which was released first in December 2013, reached 16,775 units for the period from January to May this year, about three times higher than those of Genesis which was sold 5,614 units a year ago.