The Korean luxury SUV you can get for less than a Hyundai Tucson

Most, but not all, luxury cars tend to depreciate in value faster than their regular counterparts. That’s because these cars are sometimes more complicated due to the amount of technology and features they have, while European brands in particular have their engines and drivetrains more mechanically complex. After all, complexity always leads to a greater chance of failure.

But what about a mechanically simple luxury car? Shouldn’t this mean that they won’t suffer from rapid depreciation? Unfortunately, electric vehicles (EVs) are mechanically simple with fewer moving parts, but they depreciate faster than any vehicle. As a result, you can pretty much own a used Korean luxury SUV for less than a brand new Hyundai Tucson, and it’s not even a bad EV.

Start your electric Genesis

Genesis means the origin or formation of something, so why not kickstart your EV life with this? Genesis GV60? That’s because early GV60 models, especially 2023 model year vehicles, can be had for less than $29,200, the base price of a brand new Tucson.

When EV depreciation benefits you

EV depreciation won’t be your best friend if you own the vehicle, but if you’re in the used EV market, it will heavily favor you, the buyer. Although data about a used Genesis GV60 still missing, projections through AutoEdge suggest that the GV60 will have an average retail value of $25,024 after five years. It’s worth noting that the oldest models on used car lots today will be three years old, but you can already see a handful of examples selling for less than the $29,200 base price of a brand new Tucson. There are a few used examples that are well priced through Edmundswhile one more out iSeeCars sells for less than $29,200.

Why EVs are rapidly decreasing in value

But why are electric cars depreciated so quickly? Does that mean these are bad cars? Well, not exactly. First, unlike internal combustion engine (ICE) cars, where core technologies are near their peak, electric cars still have a lot of room for innovation. Charging speeds are growing almost exponentially in just a few years, while battery composition allows electric cars with smaller but more energy-dense batteries just a few years apart. It is this speed of innovation that makes an important contribution to the faster depreciation of an EV.

Another reason why EVs are depreciating faster is somewhat anecdotal. Even though several studies have already shown that batteries last much longer than people think – often even longer and much longer than the time an ICE needs an overhaul – consumers are still wary of the lifespan of this new technology. Finally, another contributing factor is that demand for EVs is generally lower than for ICE cars or hybrids. Furthermore, the supply of electric vehicles exceeds demand as so many new EV offerings are brought to market. Economics has taught us that greater supply and lower demand mean lower prices.

Let’s explore the design of the GV60

If you’re considering the Genesis GV60 as your next car purchase, here’s what you need to know about this luxury EV in terms of its exterior and interior design, and what possible features you can get.

Striking looks

Notice I said striking, but not necessarily beautiful? Well, to me the GV60 doesn’t look nice, but of course your preferences will vary. It’s your choice, so whether you like it or not, like the signature Two-Line LED headlights and the wide grille. But part of me finds the front end tricky because of the design of the grille and the vents surrounding it. Fortunately, the side profile is more pleasing, but for me even this part of the vehicle seems like there’s too much going on. It’s not helped by his hunchbacked backside either. I don’t like this aesthetic in cars like the BMW X6, and I don’t like it in this size either, because the area of ​​the trunk lid where the window ends looks too high.

Opulent interior

But where you get your money’s worth, especially for less than the price of a brand new Tucson, is undoubtedly the interior. Genesis creates some of the most beautiful interiors in the luxury space, and the GV60’s art deco aesthetic looks great. There are hardly any glossy black materials, relying instead on tasteful matte metal textures and knurled switches, making the interior feel truly luxurious. Two 12.3-inch screens greet the occupants, along with a nice operating system. It’s called the connected car Integrated Cockpit (ccIC), a derivative of Hyundai Motor Group’s (HMG) connected car Navigation Cockpit (ccNC) used in Hyundai and Kia’s core models.

The GV60 doesn’t just dress like a luxury EV – it’s fully committed, with materials and craftsmanship that feel truly high-end. Everything inside is thoughtfully designed and solidly built, from the soft-touch surfaces to the intricate details. It’s the kind of cabin that feels as premium as it looks, if not more so.

As a luxury EV, you obviously have a generous amount of features, but that will depend heavily on what equipment you get for less than the price of a brand new Tucson. For durability, the lower trims have a leatherette upholstery, while leather or nappa leather is offered on the higher trims. Expect features such as electrically adjustable front seats, a panoramic sunroof, a power tailgate and the full range of advanced driver assistance systems, while the higher trim even comes with a Bang & Olufsen surround sound system.

Also a fundamentally great EV

EVs can quickly depreciate in value, but that shouldn’t stop you from owning a used one, especially since the Genesis GV60 has solid fundamentals. That’s because the Genesis GV60 is underpinned by HMG’s advanced Electric Global Modular Platform (E-GMP), which is what the award-winning Hyundai Ioniq 5 and Kia EV6 use.

Sophisticated, even in 2025

The efficient electric motors and skateboard architecture ensure competitive range figures and unparalleled use of interior space. Additionally, thanks to its 800-volt electrical architecture, the GV60 can support up to 350 kW of DC fast charging speeds, enabling a 10 to 80 percent charge in just 18 minutes. Finally, the GV60 with vehicle-to-load (V2L) can also be an external power source, useful when camping or when there is a power outage. These capabilities were groundbreaking in 2023, and it won’t be until 2025 that these features will start to come to fruition in other EVs. And yet, not all electric cars will have these capabilities in 2025 or 2026, depending on when you read this.

Wide selection of powertrains

Depending on your budget, you have four versions of the GV60, all of which have varying range and performance figures. In the most efficient standard single-motor RWD configuration, the GV60 features 225 hp and a EPA-estimated range of 294 miles. Opt for dual-motor AWD versions, expect a power increase to 314 hp, but understandably the range drops to 264 miles (or 248 miles with the Advanced AWD’s 20-inch wheels). Fancy even more speed? The Performance AWD offers a whopping 429 horsepower, but unsurprisingly it’s the least efficient version with only 285 miles of driving. EPA-estimated range.

2023 Genesis GV60 Performance Specs

Sources: KBBThe EPA, Edmunds, AutoEdge, iSeeCars