- Base price of G90 sedan grows 15% over outgoing model.
- The brand believes the time is right for a six-digit Genesis.
- The sedan's features are worth "way more" than the price, COO says.
Luxury automaker Genesis feels that it's ready to enter new territory — that of the $100,000 executive sedan. And what's more, its latest 2023 G90 still counts value among its top attributes, according to Claudia Marquez, chief operating officer of Genesis Motor North America.
"We actually feel pretty good," Marquez told Edmunds during the recent media launch of the redesigned G90. "We are a luxury brand and all the technology in this fantastic product has a cost, and that is part of the 'why.' But we feel comfortable that this is the price we should be sitting at."
Genesis is known for luxury vehicles that far undercut the cost of pricier competitors. The current G90 starts at $76,620 including destination, with top trims carrying an MSRP of $82,870. That's less than the base price in the high-$80,000s to low-$90,000s for some German rivals. A bone-stock Mercedes S-Class, for instance, begins around $110,000.
But now Genesis is taking a new tactic, and it may make customers balk. The 2023 G90 comes in two trims: the standard model starting from $89,495 (with destination) and a mild hybrid version with a starting price of $99,795 — effectively making the new G90 a $100,000 car.
The new pricing means that a base Genesis G90 is more expensive than introductory versions of the Lexus LS and Audi A8. The cost of the mild hybrid G90 is now significantly more than a BMW 7 Series to start and places it within the realm of a base S-Class.
Genesis does have its reasons for the attention-grabbing price tag. On a recent test drive an example of the mild hybrid G90 impressed with its interior luxury and comfortable ride quality, partially due to the air suspension included on such models. There are also ambitious available features such as rear-wheel steering for greater stability and control, a massaging function on all four seats, and doors that close at the press of a button. We're eager to conduct a full evaluation of the 2023 G90 to see whether it's among the best in its class because it may well be.
To justify its cost, Marquez pointed to the long list of available features in the 2023 G90, some of which — like the air suspension and massaging seats — are pricey add-ons or not available at all in competitors. "We're confident that [reception to the G90] is going to be positive, because what we're offering in the car is way more than what the customers will pay," she said.
Genesis is also eager to enter a new pricing segment that already has an established customer base. BMW sold nearly 8,000 7 Series models in 2021 while Mercedes, buoyed by a redesigned S-Class, sold more than 14,000 of the sedans during the same period. Both figures far outpace G90 numbers, which traditionally fall in the low 2,000s.
Moving upmarket doesn't guarantee an increase in sales, of course. But Marquez is optimistic that Genesis will have more vehicle availability in the near future while still keeping demand high. The brand has seen recent success in its crossovers such as the GV80 and GV70, the latter of which is the Edmunds Top Rated Luxury SUV for 2022. The redesigned G90 marks a new level of luxury moving forward, and Genesis is also establishing stand-alone dealerships in key areas around the country. The initial six stand-alone Genesis dealerships will be located in:
"It's one of the many ways that we're representing the brand," Marquez said. "To grow into the future we have to have the right facilities."
Genesis is clearly looking to make a statement with the redesigned G90 and its astronomical — for this brand, anyway — price tag. We're eager to see how customers respond, and stay tuned for our full test and rating score to see where the new Genesis G90 ranks among the best from BMW, Mercedes and others.