Five years ago, I spent the morning touring the manicured lanes of Buckinghamshire in a Hyundai Genesis. Not just any old Hyundai Genesis, but the one owned by the president of Hyundai UK.
You can read my review of the Hyundai Genesis on the Motoring Research website. To save you a click, I rather liked it, but I said you’d be mad to drop £48k on Hyundai’s automotive folly.
Today, you don’t have to spend £48,000 on Hyundai’s ‘Ballad of Big’. A used Hyundai Genesis could cost just £14,000. That’s all. Am I very wrong to find that an appealing prospect? Three references to the other famous, but no less tuneful, Genesis is probably enough.
Here’s the thing. While you were sleeping, the price of a new Hyundai has started to creep up. Wander into a Hyundai dealer tonight, tonight, tonight (sorry), and 14,000 notes would secure little more than an i10 with an asthmatic 67PS engine and less joy than an Excel spreadsheet.
Spend the same amount on a Hyundai Genesis and you’ll enjoy a 3.8-litre V6 engine, rear-wheel-drive jollity and the kind of understated presence you can only get from a South Korean presidential saloon.
Sure, the Genesis isn’t perfect, for reasons that I outlined in my review. But the problems are less of an issue when you’re spending £14,000, although the £580 rate of VED could be a stumbling block. Let’s remember, that’s enough to secure a Renault Safrane and a Toyota Camry.
A spokesperson for Hyundai told me they didn’t expect to sell more than 100 Genesis models a year, but even that turned out to be a tad optimistic. There are 41 registered in the UK, with a further two listed as SORN, presumably because a couple of people forgot to factor in the cost of tax.
Most would have been registered as dealer demonstrators. Only eight Hyundai dealers were given the difficult challenge of selling the Genesis by the pound. Others would have been used by head office.
In fairness, the Hyundai Genesis was little more than a branding exercise. As the ‘most refined and technologically advanced Hyundai ever made in Europe’, it was like a business card for the future. A sign of things to come. Unfortunately, we’re still waiting for a rear-wheel-drive Hyundai hatchback with a 3.8-litre V6 engine.
No matter: we’ll just allow the Hyundai Genesis to continue losing value like the share price of a chewing gum firm during a period of social distancing. It might be a misunderstanding, but I could have sworn the price of Genesis was £15k a month ago. At the current rate of depreciation, it’ll drop below £10k by the end of the year, especially now that the five-year warranty has expired.
Now if you’ll excuse me, I must dash. Supper’s ready…