Is Lexus Resale better than Genesis?
When it comes to vehicle resale value, the Lexus brand is often considered superior to Genesis. Lexus, Toyota's luxury division, has a long-standing reputation for exceptional build quality, reliability, and strong resale values. In contrast, Genesis is a relatively new luxury brand from Hyundai, and its resale performance is still evolving.
Lexus Resale Value
Lexus vehicles consistently rank among the top brands for resale value. According to industry data, Lexus models typically retain 60-70% of their original value after 3 years of ownership. This is due to Lexus' reputation for quality, durability, and customer satisfaction, which translates to high demand in the used car market.
Genesis Resale Value
The Genesis brand, launched in 2017 as Hyundai's luxury division, is still establishing its reputation in the market. While Genesis models have received positive reviews for their design, technology, and performance, their resale values have not yet reached the same level as Lexus. Industry data shows that Genesis vehicles typically retain 50-60% of their original value after 3 years.
Factors Affecting Resale Value
Several factors contribute to a vehicle's resale value, including:
- Brand reputation and perceived quality
- Reliability and durability
- Desirability and demand in the used car market
- Availability of parts and service support
- Depreciation rates and market trends
Lexus' long-standing reputation as a reliable and high-quality luxury brand gives it an advantage in the resale market. Genesis, as a newer brand, is still building its reputation and customer loyalty, which can impact its resale performance.
Conclusion
Based on the available data, Lexus generally has a stronger resale value compared to Genesis. Lexus' reputation for quality, reliability, and customer satisfaction translates to higher demand in the used car market, resulting in better resale values for Lexus owners. While Genesis is a promising luxury brand, it still has work to do to match Lexus' resale performance.
Is Lexus resale value better than Genesis?
Kelley Blue Book takes the time each year to name its top picks in the Kelley Blue Book Best Resale Value Awards. In 2023, two individual Lexus models took home top honors in their respective categories1. On the other hand, Genesis earned just a single mention in the Kelley Blue Book Best Resale Value Awards.
Where does Lexus rank in reliability?
Toyota lost the top spot in Consumer Reports' list of the most reliable car brands in 2024. Subaru knocked off the usual leader, with Toyota's Lexus luxury brand taking second and Toyota's mainstream offerings in third.
Are Genesis as reliable as Lexus?
Lexus, with its longstanding reputation, is known for excellent longevity and reliability. Genesis, however, has quickly proven itself as a worthy competitor with a similarly high standard for quality and a commitment to customer satisfaction.
Do Genesis cars depreciate quickly?
A 2023 Genesis GV70 has depreciated $9,577 or 21% in the last 2 years and has a current resale value of $34,698 and trade-in value of $31,332. The 2023 Genesis GV70 is in the top 10-25% for depreciation among all 2023 SUVs.
How many miles will a Genesis last?
200,000 to 300,000 miles
How Long Do Genesis Vehicles Typically Last? With proper care, Genesis vehicles can easily last 200,000 to 300,000 miles, translating to 15-20 years of reliable use for the average driver.
Which car brand has most resale value?
So, before you embark on your car-buying journey, consider these top contenders for the best resale value cars in India:
- Maruti Suzuki Dzire.
- Toyota Innova Crysta:
- Hyundai Creta.
- Maruti Suzuki Swift.
- Honda City.
- Mahindra Scorpio.
- Tata Nexon.
- Maruti Suzuki Wagon R.
Which luxury car has the best resale value?
Which luxury car brand holds its value best? Lexus stands out as the luxury car resale king among luxury car brands for its remarkable resale values. Models like the Lexus GX and LX are known for their high quality and robust engineering, with the LX 570 retaining 68% of its value over five years.
Does Genesis have resale value?
HOLDS ITS RESALE VALUE
Unlike other car's resale values, which usually depreciate by more than 80% of their value, the Genesis GV70 proves to be a better choice; not only not only having one of the best 5-year resale values among other Genesis vehicles, but ranking highly among all other luxury SUVs as well.
What are the cons of owning a Genesis?
Cons of the Genesis G80
- Limited Brand Recognition. While the Genesis brand has been gaining traction, it still lacks the long-established prestige of some of its European counterparts.
- Not as Sporty as Some Competitors.
- Resale Value.
- Fuel Efficiency.
Does Lexus hold its resale value?
Honda and Lexus were again named the mass-market and premium vehicle brands most likely to retain more of their value three years after vehicle purchase, according to J.D. Power.
