Genesis Coronavirus Financial Relief and New Car Incentives

Rebecca Lindland | April 3, 2020

Potentially devastating from both a health and a wealth standpoint, the COVID-19 pandemic is affecting everyone. Despite significant efforts to minimize the financial impact of the coronavirus, it continues to spread across the nation, causing disruption to every industry and every household.

Genesis Coronavirus Financial Relief and New Car Incentives

Keenly mindful of the sudden burdens many people are experiencing, Genesis USA is reassuring consumers by providing assistance to owners and shoppers alike through a variety of coronavirus payment plans and programs.

In fact, Genesis was one of the first brands to offer financial support to its owners, launching Genesis Cares Job Loss Protection on March 13, 2020. It has since updated and broadened the program to include medical impacts upon owners and new customers. A summary of available Genesis programs and the status of the company’s operations follows.

Genesis Customer Relief Programs - Find the best deals!

There’s a long list of brands providing coronavirus car payment plans and other assistance to current and prospective customers. Genesis and its parent company, Hyundai, were early responders to the pandemic, launching programs to protect owners and encourage sales by mid-March 13, and then further broadening the program to include medical impacts of COVID-19 on March 25.

“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,” said Mark Del Rosso, President and CEO, Genesis Motor North America, in a statement.

If you buy or lease a Genesis between March 14 and April 30, and then suffer a job loss due to COVID-19, Genesis will make six months of payments for you with a $600 monthly cap on the amount. Owners who lose their jobs can also defer payments for up to 90 days, and this option is also available to people who experience a medically-related hardship.

If you leased a vehicle through Genesis Finance, the maturity date falls before the end of May, you can utilize an existing policy that allows customers to extend a lease for up to six months. Genesis Finance can be reached at 1-844-363-7477 or on its website, and you can discuss the various options available to you.

Genesis retailers are also working with state and local officials to remain open to service vehicles, but always check with your dealership about availability. While other car companies are just discovering valet services, Genesis has offered it all along. Free pick-up and delivery, plus a loaner vehicle during servicing, is complimentary for the first three years or 36 months of ownership whether or not a global pandemic strikes.

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Genesis New Car Incentives - Find the best deals!

Genesis is offering a great deal on remaining stocks of the 2019 G70 compact sport sedan, which ranked highest in its segment in the J.D. Power 2019 Initial Quality Study (IQS). Customers who purchase a 2019 G70 can finance it at 0% APR through Genesis Finance for 84 months and defer payments for 120 days. All you need to do is take delivery by April 30, 2020.

Aside from the G70, Genesis is offering low-APR financing and customer rebates on the midsize G80 sedan and the large G90 sedan. The automaker needs to clear inventory of both models in advance of the arrival of the redesigned 2021 Genesis G80 and the restyled 2021 Genesis G90.

Genesis Factory Closures - Find the best deals!

Genesis vehicles are produced in Ulsan, South Korea. With five separate car factories, Ulsan is the largest automotive assembly region in the world, with an annual build capacity of 1.5 million vehicles for both Genesis and its sister brand Hyundai.

Production at the assembly plant where the all-new and much-anticipated 2021 Genesis GV80 SUV is made halted on February 27 when a worker tested positive for the coronavirus. The facilities were heavily sanitized and workers were quarantined as a safety measure until the plant resumed production a few days later, according to Genesis.

There’s no indication if the temporary closing of this plant impacted the upcoming scheduled debuts of the new GV80 SUV or the new G80 sedan.

Inventory at individual dealers varies as a result of the production stoppage, so check with your local showroom for product availability.

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

Genesis reported March sales of just 969 units, down 33% from last March. But after a stellar January and February, sales were only down 5.9% for the first quarter. Full-size luxury sedan G90 sales were actually up in March and are up nearly 40% year to date.

Tyson Jominy, J.D. Power’s vice president of Data and Analytics, offers a national perspective, anticipating new vehicle sales will be affected by the coronavirus at least through April and likely beyond. J.D. Power has revised its sales numbers from a pre-virus estimate of 16.8 million units to 12.1 to 14.8 million units for 2020.

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