Genesis, Hyundai’s luxury brand, isn’t launching its new “Magma” performance division as a mere branding exercise. According to CEO Jose Muñoz, Magma is integral to the company’s aggressive plan to increase global sales by 55% by 2030, reaching 350,000 vehicles annually. This represents a significant leap for a brand still solidifying its presence in competitive markets like Europe and Australia.
The Magma Strategy: More Than Just a Halo
Crucially, Genesis doesn’t expect Magma to be a low-volume prestige project. The company projects that high-performance Magma models will account for approximately 10% of total Genesis sales. Muñoz emphasized that this isn’t just about track records or Nürburgring lap times; it’s a genuine business strategy designed to boost revenue.
“This is not just a halo, it is a healthy business, proof that emotional performance can create real value,” Muñoz stated.
This approach aligns with the successful models of BMW M and Mercedes-AMG, which transitioned from engineering projects to major profit centers. By leveraging the appeal of performance, Genesis aims to increase transaction prices and margins, similar to Porsche and Mercedes-AMG’s strategies.
Why This Matters: Australia & Global Markets
This is especially important for markets like Australia, where high-performance variants consistently drive a large share of luxury car sales. For Genesis, which has struggled to gain traction in certain regions, Magma could finally provide the edge it needs. The strategy acknowledges that buyers are willing to pay more for a performance-oriented badge and the perceived credibility it carries.
Launch Timeline & Models
The GV60 Magma will be the first model released, initially in Korea in early 2026, with expansions into Europe and North America following shortly. Australia is expected to receive the model soon after, given the country’s strong demand for high-performance SUVs.
Genesis’s move demonstrates a calculated effort to transform performance from an aspirational feature to a core business driver, rather than simply a marketing tactic. This could redefine the brand’s image and accelerate its growth in the competitive luxury automotive landscape.
