New name, new brand, new high price.
The Genesis brand is Hyundai's attempt to reposition itself against established luxury brands like Lexus. Its flagship model, the G90, is basically a refreshed version of the Equus, which was already quite an impressive model. The G90 has a lot of pressure to launch a new brand and prove that a Korean luxury car can compete with Japanese and German equivalents. Now that Hyundai is moving forward with its luxury brand, the automaker will also raise the price of Genesis models.
Unsurprisingly then the G90 is more expensive than the Equus which it replaces. The 2016 Hyundai Equus had a base price of $61,500 for the 5.0-liter 429 horsepower V8. The new G90 comes with a base 3.3-liter twin-turbo V6 engine with 365 horsepower. Even with a less powerful V6 as the base engine, the new G90 still starts at $68,100. The 5.0-liter V8 is still available, and will only cost $1,600 more than the V6 variant at $69,700. AWD is available for V6 and V8 models priced at $70,600 and $72,200 respectively. This may seem like a large amount of money to spend on a Hyundai, but the new Genesis brand is supposed to fix that issue.
The G90 is almost $7,000 more than the old Equus, but is still less expensive than the Lexus LS 460 which starts at $72,520. Like the Equus, the G90 should represent huge value over the German and Japanese equivalents. $70,000 may seem like a lot to spend on a Hyundai product, but it wasn't too long ago that people scoffed at Lexus for being just a fancy Toyota.