On the Dash:
- Hyundai introduces the GV60 Magma EV with 650 hp and 3.4-second 0-62 mph acceleration, targeting the luxury performance market.
- The Crater SUV concept previews rugged, off-road-focused XRT models for adventure-oriented buyers.
- Hyundai’s U.S. sales remain strong, with combined brands up 29% since 2019, supporting growth despite tariffs.
On Thursday, Hyundai unveiled the electric GV60 Magma, the first of several vehicles under its high-performance Genesis Magma sub-brand, signaling a push into the luxury and performance market. The GV60 Magma delivers up to 650 horsepower, accelerates from 0 to 62 mph in 3.4 seconds, and offers 615 foot-pounds of torque.
Positioned above the existing Genesis GV60 Performance trim, which starts at $71,875 in the U.S., the vehicle leverages existing EV platforms like the Hyundai Ioniq 5 and Kia EV6 to manage production costs while commanding a premium price. Sales will begin in South Korea early next year, followed by Europe and North America in 2026. Key features include a head-up display and a “Drift Mode” designed for rear-wheel-focused driving.
Hyundai also debuted the Crater SUV concept, a rugged compact vehicle inspired by American off-road models, designed to showcase versatility and adventure-focused capabilities. The concept was developed at Hyundai’s America Technical Center in Irvine, California, and previews the company’s next-generation Xtreme Rugged Terrain (XRT) lineup.
Notably, the automaker has made substantial strides in expanding its presence in the U.S. market. As a result, the automaker is on track to achieve its fifth consecutive year of record retail sales by the end of the third quarter of 2025. From 2019 to 2024, Hyundai brand sales rose 21.5% to over 836,800 units, and combined sales for Hyundai, Genesis, and Kia increased 29% to more than 1.7 million vehicles.
Hyundai has faced challenges, including tariffs that cost roughly $1.22 billion in the third quarter, prompting a lower profit forecast. Launching higher-end models like the GV60 Magma allows Hyundai to maintain margins while attracting new buyers to its luxury and performance lineup.
The Genesis Magma program, launched last year, aims to deliver multiple high-performance vehicles, following strategies used by BMW and Mercedes-Benz with their M and AMG lines. The combination of premium features and performance with cost efficiencies of existing platforms positions Hyundai to strengthen its presence in the U.S. market.
