2024 Genesis GV70 and GV80 prices rise by $2000, model range reduced

The Genesis GV70 and GV80 luxury SUV model ranges have been reduced – alongside price rises of up to $2030 in effect from orders placed next month.

Genesis has announced the 2.2-litre turbo-diesel engine will be deleted from the GV70 mid-size SUV line-up for Model Year 2024, and the 2.5-litre turbo-petrol engine will be cut from the GV80 range.

It attributes the changes to "a step towards electrification of the Genesis range", and says these combinations – which accounted for less than 5 per cent of GV70 sales, and about 25 per cent of GV80 sales respectively – remain in production for overseas markets.

It leaves the GV70 with a choice of 2.5-litre turbo-petrol four-cylinder and 3.5-litre twin-turbo petrol V6 engines – and the GV80 with 3.0-litre turbo-diesel inline six-cylinder and 3.5-litre twin-turbo petrol V6 engines.

Existing orders will be fulfilled for all deleted models, Genesis says.

Alongside the trimmed model line-up, Genesis has increased prices across the remaining GV70 and GV80 models by $2000 to $2030 "due to increased manufacturing and transport costs" for Model Year 2024 (MY24).

Standard equipment levels are unchanged for the new model year. A mid-life facelift for the GV80 is expected in Australian showrooms next year, while an updated GV70 is expected about a year later – though Genesis has not confirmed arrival timing for either vehicle.

The company says GV70 and GV80 orders placed before 1 September 2023 – including existing orders – will pay the lower 2023 prices, even if the vehicle is not delivered until after September 1.

Orders placed from September 1 onwards will face the higher 2024 prices.

Note: All prices above exclude on-road costs. RWD is short for rear-wheel drive, and AWD is short for all-wheel drive.