Genesis to boost profits via Hyundai Motor Group ties

SAN FRANCISCO — Genesis will shore up profitability against tariffs from the United States by deepening engineering and manufacturing ties with Hyundai Motor Group, key executives from the Korean auto brand said Thursday (local time). Hyundai Motor CEO Jose Munoz pointed to what he described as long-running technical cost reduction programs, which he said allow the group’s auto brands — Hyundai Motor, Kia and Genesis — to standardize parts and improve quality while lowering expenses at the same time. Munoz outlined a broad list of areas where the carmakers are pursuing shared savings — engineering, manufacturing, design, production, supplier contracts and distribution. "It is fair to say that the group has done way better than most of our competitors (despite the tariff shock)," Munoz told reporters during a press conference, a day after the Genesis GV90 world premiere. He cited continued growth of Hyundai Motor sales to back up the strategy. The carmaker reported record quarterly sales of 49.21 trillion won ($35.28 billion) between April and June. The sales include those from