Last year, when Geniseys officially landed in the Chinese market, I participated in its brand night event, which was performed by a formation of 3281 drones, and I am still impressed to this day.
But now more than a year later, the brand of Jeniss has become "small transparent" in the domestic automobile market, according to the new car traffic insurance purchase data released, in the first quarter of 2022, Genesis sales in China was 298 vehicles, less than 300 vehicles, which can not be said to be a dismal sales, can only be said to have no sense of existence.
The reason is that the car is not good? Obviously not, Genises has won the North American Annual Awards for many times, and the awards rated by third-party industry authorities such as J.D. Power are not covered. After coming to China, what is the problem of its real failure to sell well? Let's talk about it now!
Brand power and channel building
As we all know, the degree of "inner volume" of China's luxury car market can be ranked in the world, as strong as the German BBA, but also to extend the product, and also from time to time to give small offers, in order to maintain the status. Not to mention, under the popular market of new energy vehicles today, a wave of independent high-end new power brands have created a new track with the help of upward mobility, such as Xiaopeng, Ideal, and Weilai, and their cars can also sell more than 300,000 yuan.
Although the product strength and brand positioning of Genisais can define themselves as "luxury brands", it is still very difficult for Chinese people to pay for it in the current domestic market. Because in the past two years, the brand power of Korean car companies has gradually declined in China, and even the limelight of the main sales models has been covered by independent brands. Coupled with the long-term low-price strategy, many consumers unconsciously label Korean cars as "cheap and low-end". At a time when Korean brands are taking care of themselves, it is undoubtedly more difficult to use a new brand to impact the high-end field.
In addition, channel construction is also a problem faced by Genissy. Previously, Genises set up brand centers in Shanghai and Chengdu, and although it has been expanding to Nanjing, Hangzhou and Guangzhou, there are only 8 brand directly operated stores. And can not open the goods, just because it means that this brand recognition can not be opened, now many people in the discussion of Genisesy, are confused, let alone to test drive or choose a car. However, according to The Genesis's plan, more stores will be opened in China in the future, and this situation will be alleviated.
Could also be more value for money
As we all know, there are no cars that cannot be sold in the domestic market, only the price that cannot be sold. Spreading out the list of Jenisses in China, it currently offers three models: G70 (guide price 24.98-35.50 million), G80 (guide price 36.28-45.78 million), GV80 (guide price: 52.98-61.88 million).
Although these three models have a certain price advantage compared to the same level of BBA models, they can actually be more cost-effective if they want to get more market share. Take the Geniseys GV80, the 2.5T entry version in the United States starting price of $48,900, equivalent to about 300,000 yuan, and the 2.5T top version of the model is also equivalent to more than 400,000 yuan, which imported into the domestic value soared by about 200,000, even if the import tariffs are added, this price is still not "affordable".
Of course, here is not to rule out the reason why manufacturers want to establish a high-end brand image, but only Xiaobian believes that in the case of even BBA is so "internal volume" today, if Genisace can give certain terminal discounts, then it can also be better based in the domestic market.
Write at the end
Although Genissy is well-satisfied in the U.S. market, it still has a long way to go if it wants to make a difference in the country. Of course, at present, The brand building of Jinisaisi in China has taken a solid first step, if you can improve the construction of outlets, and slowly accumulate user reputation, I am still very happy to see The new variety of Jinises, which is rich in style, based on the domestic luxury brand circle.