Genesis G90 Schools Industry on What Should Define Luxury, According to Strategic Vision's 2024 Total Quality Awards

SAN DIEGO, Nov. 12, 2024 /PRNewswire/ -- During the pandemic, chip shortages and vehicle availability created a difficult environment for consumers to purchase new vehicles. With limited allocation, dealers loaded on the optional features and sold vehicles at a premium to keep profitability high, changing the median income of buyers from $95,000 to $115,000 as those with lower incomes were priced out of the new vehicle market. This was even more true for Luxury buyers who saw the median price of their vehicles move from $50,000 to $60,000. While the vehicles sold were loaded with optional features and generally loved by their consumers, the significant price increases prompted new vehicle buyers to ask, "Do I really love this vehicle at the given price? Is the Quality of the vehicle even adequate considering expectations and price?" The 2024 Total Quality Awards from Strategic Vision show how Hyundai, notably Genesis with the G90, consistently lauded for superior design and value, has challenged traditional luxury giants like Lexus and Mercedes-Benz.

"Genesis has taught the other luxury brands what they need to do to be premium with the emerging consumers of tomorrow. Loading a vehicle with features and proclaiming both luxury and quality will not be enough. Instead, luxury brands must focus on consumer's priorities and deliver where it counts," notes Christopher Chaney, Senior Vice President of Strategic Vision. "With the right new capabilities of customization and innovative features, along with an electrified powertrain, luxury and mass-market brands will need to learn from the G90 to be successful in the years to come," Chaney concluded.

Stellantis also had four segment-leading models: the Charger, Durango, Wrangler, and Ram 2500. "The leads these Stellantis models took this year may surprise some. The Wrangler and Ram's success demonstrated that Stellantis brands still have potential, in spite of significant problems fueled by the company's neglect of consumer priorities," said Alexander Edwards, President of Strategic Vision. "Customers today are not just looking for vehicles with fewer problems, they want vehicles that excite them and inspire confidence."

General Motors Corporation also had four segment leaders, including the GMC Sierra 1500, which impressed customers with its blend of power and versatility, and the Chevrolet Blazer, celebrated for its performance and exterior styling.

Below is the full list of the 2024 Total Quality Award winners and TQI scores:

*Previous year leader

Strategic Vision is a consulting and advisory services firm that specializes in understanding and predicting consumer preferences, loyalty, and advocacy through ValueCentered Psychology®. The 2024 Total Quality Impact (TQI) study is based on responses from over 77,000 new vehicle buyers during their first 90 days of ownership, combining both emotional and rational evaluations of quality and vehicle performance. For more information or interview requests, please contact Alexander Edwards or Christopher Chaney at (858) 576-7141 or visit our website at www.strategicvision.com.

Press Contacts: Alexander Edwards / Christopher Chaney 858.576.7141
chris.chaney@strategicvision.com

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SOURCE Strategic Vision