Genesis Coronavirus Financial Relief and New Car Incentives

No matter where you look, what you listen to, or when you look for it, the Coronavirus pandemic is the first thing anyone is talking about. The global crisis has the citizens of the world fixated on stemming the tide of infections that is compromising the lives of millions. And while tactics like social distancing have begun to show signs that we are heading in the right direction when it comes to slowing the spread, the financial impact of the Coronavirus is only getting more bleak with each passing day.

Genesis Coronavirus Financial Relief and New Car Incentives

Knowing that consumers have financial burdens of significant proportions, Genesis USA has created responsive programs that are intended to provide assistance to both current vehicle owners and new customers through a selection of Coronavirus Car Payment Plans.

The following guide details the available programs Genesis is offering to consumers in response to COVID-19.

Genesis Customer Relief Programs - Find the best deals!

While there may be a growing list of brands who all provide some form of relief to its customer base, Genesis and its parent company, Hyundai, were first responders in their own right. In fact, Genesis was actually one of the first auto brands to offer financial assistance to its current owners when it launched its Genesis Cares Job Loss Protection campaign on March 13th. The program was recently expanded upon on March 25th to also include medical setbacks endured by both current vehicle owners and new customers, as well.

Mark Del Rosso, President and CEO of Genesis Motor North America, released a statement regarding the program. “We greatly value our Genesis customers, and Genesis Cares Job Loss Protection constantly strives to look inward at our business through their eyes to ensure that we’re a brand they can be proud to be affiliated with,” he said.

The relief offers extend to new customers as well. Individuals who purchase or lease a Genesis from now until April 30th, and unexpectedly suffer a job loss as a result of the Coronavirus, may qualify to have 6 months of payments made by Genesis to assist their financial woes. A monthly cap of $600 applies to this offering. Genesis owners who suffer a loss of employment also have the option to defer payments for up to 90 days. This offer is also being extended to owners who experience a medically-related hardship due to COVID-19.

In addition, current customers who leased a vehicle through Genesis Finance, and whose maturity date falls before the end of May 2020 have the option to take advantage of an existing policy that grants customers a 6-month extension on their lease.

Customers with inquiries regarding their potential relief options are encouraged to contact Genesis Finance at 1-844-363-7477 or on its website to discuss the different options that may be available.

Genesis retailers continue to work directly with state and local officials to abide by safety protocol and try to remain open for customers in need of vehicle services. However, due to extensions in place pertaining to stay-at-home orders, it's best to check directly with your dealership and inquire about their specific availability.

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Genesis New Car Incentives - Find the best deals!

A number of enticing incentives are being made available by Genesis, extending offers on remaining stock of the 2019 G70 compact sport sedan, ranked highest in its class in the J.D. Power 2019 Initial Quality Study (IQS). Customers can finance the 2019 G70 at 0% APR for 84 months deferred payments of up to 120 days when you purchase a vehicle through Genesis Finance. Customers must agree to a vehicle delivery date by April 30, 2020 to take advantage of this offer.

Genesis also has additional incentives available models other than the G70. They are offering customer rebates and low-APR financing on the G80 midsize sedan and the roomy G90 full-size sedan. Genesis intends to clear inventory of both the G80 and G90 in anticipation of the arrival of the 2021 model versions.

Genesis Factory Closures - Find the best deals!

Unlike a number of American automakers whose facilities reside within the borders of North America, Genesis produces its vehicles in Ulsan, South Korea. The city acts as one of the largest automotive assembly regions in the world today. Ulsan is home to 5 individual car factories with an annual build capacity of 1.5 million vehicles for both Genesis and its parent company, Hyundai motors.

The factory that handled production for the all-new 2021 Genesis GV80 SUV suspended operations on February 27th in response to concerns surrounding COVID-19. Production was brought to a standstill after an employee tested positive for the Coronavirus. Following the news of the positive result, facilities underwent extensive sanitation and plant workers were quarantined as a safety precaution. According to Genesis, after review of the situation, production resumed at the facility a few days later.

To date, no indication has been made from Genesis as to how the temporary closure of this facility may impact the scheduled debuts of the new G80 sedan and GV80 SUV.

Genesis Economic Outlook & Sales Forecast - Find the best deals!

March proved to be a challenging month for businesses of every shape and size, including Genesis. The automaker reported sales of only 969 units for the month, resulting in a 33% decline in comparison to March 2019 sales. An outstanding showing in January and February brought optimism to Genesis, as first-quarter sales were only down a mere 5.9%. Optimism remained, as G90 luxury sedan sales were actually up in March and had increased nearly 40% year to date. However, the growing pandemic the nation is currently combating may stifle the rest of this year’s projected sales figures and all but eliminate the remaining optimism from a strong start to the year.

J.D. Power’s vice president of Data and Analytics, Tyson Jominy, provided some perspective on the national level, stating that they anticipated sales will be affected by the COVID-19 crisis. He predicted these affects would last through at least the month of April and likely far beyond that. In response to this disruption, J.D. Power has modified its sales predictions to reflect the fallout of the Coronavirus. J.D. Power scaled back its pre-Coronavirus estimate of 16.8 million units for 2020 down to 12.1 to 14.8 million units.

While the citizens of the country continue to face the unknown and uncertain future that awaits them, businesses and working Americans will continue to work together to overcome the crisis at hand. Genesis seeks to continue doing its part to provide relief to its loyal and valued customers.