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In the face of the electric vehicle (EV) trend, South Korean automakers KG Mobility and Hyundai Motor Group are revitalizing existing models rather than launching new ones. They're innovating through facelifts and performance enhancements, offering new life to their vehicle portfolios.
One such refresh is the Tivoli SUV, which was initially launched in 2015 and recently received another facelifted version by KG Mobility, formerly known as SsangYong Motor Co. This newly upgraded Tivoli features subtle changes in both interior and exterior design while retaining the same powertrain.
Similarly, Hyundai Motor Co.'s luxury brand Genesis released the G70 sedan, which still retains a similar appearance to its predecessor, with only minor modifications to the interior design and the addition of the new Genesis emblem on the exterior.
However, the 2.5-liter turbocharged four-cylinder engine used in the Genesis GV70 and G80 and Kia Stinger GT is finally being dropped by Hyundai into the G70. The 2023 car's existing two-liter turbocharged four-cylinder engine is obviously a weak point, so increasing its horsepower from 252 to 300 should give it some considerable pop. The torque increases significantly from 260 lb.-ft. to 311, the G70 might become the basic four-cylinder sports sedan segment's stoplight king.
As traditional internal combustion engine models are increasingly phased out, the motivation to develop new models is decreasing. Looking to the future, domestic companies are concentrating their efforts and resources on the development of new electric vehicles. So instead of costly, full-scale model changes, local carmakers now opt for minor tweaks to refresh the appearance and performance of less popular models.
While domestic sales for both the Tivoli and the G70 have declined over the past year, these facelifts, especially in light of the electrification transition, might prove to be the innovative and cost-effective solution that helps these companies stay ahead of the curve.
KG Mobility witnessed a sharp decline in domestic sales of the Tivoli, dropping from 23,452 units in 2020 to 11,130 units last year, while the domestic sales of the Genesis G70 decreased from 7,190 units to 5,284 units during the same period.
