Genesis is doubling down on high performance with its new Magma sub-brand, but the launch isn’t just a marketing stunt. It’s a direct response to weak sales figures for the GV60 electric SUV, which has seen a drastic 77% year-over-year decline in Australia. While Genesis as a whole is performing well overall—up nearly 15% to October—the GV60 lags far behind the brand’s more popular models like the GV70 and GV80.
The Problem: Visibility in a Crowded Market
The GV60 is a critically acclaimed vehicle: quiet, fast, quick-charging, and visually distinctive. Yet, it struggles to break through in a market dominated by Tesla’s Model Y and established luxury brands. The issue isn’t the car itself, but awareness. Too many potential buyers simply aren’t aware of its existence.
Magma as a Halo Effect
The Magma sub-brand—with its aggressive styling, including searing orange paint and a 478kW power output—is designed to change that. By turning its slowest-selling model into a high-profile “halo car,” Genesis aims to generate buzz and draw attention back to the GV60. This strategy mirrors that of Mercedes-AMG and BMW M, where high-performance variants elevate the appeal of the entire lineup.
A Deliberate Strategy
Manfred Harrer, head of Genesis Performance Development, confirms this is a calculated move. “It’s for sure also a message to the customer—it shows how serious we are regarding performance,” Harrer stated. The goal isn’t just to sell the GV60 Magma, but to reposition the GV60 in the minds of consumers.
The Potential for Revival
If the GV60 Magma delivers on its performance promises—essentially a more luxurious version of the Hyundai Ioniq 5 N—it could become one of the best performance EVs available. This credibility allows Genesis to justify higher prices, build brand prestige, and effectively “reboot” the GV60’s image in the Australian market.
The bottom line: Genesis isn’t just chasing performance for the sake of it; the Magma launch is a necessary step to revitalize sales for a promising but overlooked EV, leveraging attention and prestige to drive broader demand.
