Genesis opens the design of the exterior and interior of the new G70 to be released next month. The new G70 is a facelift model that adds the Genesis brand identity from the original G70, which means G70 also has a quad lamp. When G80 got quad lamp, the public said that it was awesome, outstanding, and one of the best designs in the world. This quad lamp style made a change in the vehicle market in South Korea toward buying Korean vehicles.

▲ The new G70 which has quad lamp

According to Nielsen Korea, the global market investigator in South Korea, it showed that a multitude of clients who bought imported vehicle consider the local vehicle as giving a high score on productivity and design of local vehicles. It also showed that the market share of the imported vehicles in the local vehicles market recorded 14.7 percent declined by two percent. To know why public made this change, Nielsen Korea investigated seven hundred clients who bought a vehicle between April and June this year.

Four hundred clients who bought local vehicles among the clients who had imported vehicles within three years and three hundred clients who consider buying local vehicles within a year among the clients who had imported vehicles partook in the survey. Nielsen Korea compared the data in 2018 and 2020. While the clients who bought Genesis responded A/S accessibility as the major strength two years ago, this year's clients responded to the refined image of Genesis brand, luxury interior, and the exterior design as the major strengths.

The sales volume also showed the percentage of local vehicles steadily increased recording 85.3 percent in July of this year while the percentage of imported vehicles decreased. For the recent five years, the defeat device of the EU brand, a series of German vehicles fire, and diplomatic conflict with Japan made this decline. The low A/S satisfaction also had one part of it, which was supported by the analysis which said that while the sales volume of imported vehicles increased, the infrastructure of service was not fully made.

▲ Blue - local , green - revenue

The change in the Korean vehicle market will make foreign brands concentrate on service and local brands have confidence about what they did and will do. Today, vehicle brands try to make electric vehicles with sophisticated design, which means how to apply the unique brand design on EV will be the next important assignment on vehicle brands.

▲ IONIC , EV brand

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September 20th, 2020

by Gyeong Min Kwak