Genesis Spectrum: The Latest Subscription Lease Program

Genesis is set to launch yet an automotive subscription program into the marketplace, but do they work? A large share of the luxury automotive players have some sort of subscription-based service that includes scheduled maintenance along with wear items up to a mileage cap, insurance factored into the monthly payment, and the ability to exchange cars. Genesis states that the G70 (Starting at $489/mo + $2,699 down) G80 (Starting at $569/mo + $3,999 down) and G90 (Starting at $909/mo + $5,499) will all be offered, but no exchange privileges. We feel that the ability to not be tied to one specific automobile is the largest advantages to a “subscription” service like this.

I reached out to a Genesis representative about the Genesis dealership network (which was lacking, see video below from our friend and colleague Alex Dykes) and was given the following statement. “Genesis currently has 287 newly-signed retailers open for business and expects the new network of approximately 325 retailers to be by the end of April. We intend to have approximately 120 standalone Genesis retail facilities within 3-5 years.” – Centigrade

CNet reported that Genesis Spectrum would be releasing the program to Florida’s 45 dealership network first, without expressing intent to other markets.

Can the existing and newly signed Genesis retailers (read: Hyundai dealers) provide the white glove experience that a perspective Genesis client deserves? I think this falls somewhere in line with old dogs, new tricks.

Is a 36-60 month window for freestanding facilities too far out on the horizon? That will be a wait and see!