The company made this move because the cars didn't sell well. Since their launch three years ago, Genesis sold about 200 of each model in the UK. Compare that to BMW, which sold 25,000 X5s (a rival to the GV80) and 67,000 3 Series cars (similar in size to the G70).
Genesis hasn't done great overall in the UK either. From January to July this year, they sold 649 cars total. That's 23.7% less than last year. Their market share dropped from 0.08% to 0.06%.
The G70 was designed with Europe in mind. Genesis even planned a G70 Shooting Brake estate version just for Europe. But things didn't work out as planned.
Genesis might bring back the G70 and GV80 if they approve new generations. They're changing their strategy a bit. Originally, they wanted to only launch electric vehicles from 2025. Now, they're keeping hybrid powertrains in the mix.
A Genesis spokesperson said:
"Genesis continues to be committed to pursuing our plans and being a leader in the era of electrification, but we remain flexible based on market conditions and consumer demand."
Genesis arrived in the UK in 2021 and has struggled to gain traction since. They're now focusing on hybrids and electric cars, hoping to turn things around in the competitive UK market.
Source: Autocar