Hyundai Lowers Canadian Prices
Finally, it looks like the other shoe is dropping. Nine days after Toyota slashed prices on 16 of its Canadian models, its greatest emulator, Hyundai, has followed suit. CanadianDriver.com reports that Hyundai has recently clawed back the prices the Tiburon and the Tuscon L by $3,000 and $4,200 respectively. So how does this stack up against U.S. pricing? According to Hyundai.com, a new base-level Tiburon now costs $15,995 in Canada vs. $17,025 south of the border. The Tuscon is now cheaper north of the border, at $16,995 versus $17,235 in America. Before you Americans start drafting your business plan around a Canadian domestic market importation scheme, beware: the base Sonata is still more expensive in Canada, relieving of you $18,995 Canadian or $17,670 American. Now that Chrysler, Toyota and Hyundai have put the squeeze on dealers at other car companies' franchises, we expect many more "adjustments" to come. [thanks to Dave McDonald for the tip]
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A move in the right direction. Needless to say, that still leaves most other manufacturers idle on the issue. On the bright side, Mazda is offering 0%/60mths on most if not all of their products, which is welcome news, although it does hurt a bit resale value.
The 0% financing is nice but compared to say 5.5% over 3 years it doesn't quite make up for the deficit against buying a Mazda in the US. It brings the Canadian price within negotiating range ($1400 difference), that's it. Having run the USCAN price comparison on a number of new hatchbacks, that's about as equal as it gets.
So Canadian Hyundai dealers will now experience a massive drop in revenue? How's that going to affect them? What do businesses usually do when revenues fall 15% or 20%?
i6: I agree w/you but it's a move in the right direction. Better than Honda taking adds in the paper saying how much they're doing to reduce the price difference - hypocrites!