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 free trade

Hyundai and its Price Reduction


Hyundai, the South Korean automobile manufacturer, decided to act on the new free-trade deal that was signed between Canada and South Korea by cutting the prices of its automobiles by a significant amount.


Because of the agreement reached between the two governments, Canada will no longer apply a surcharge of 6.1% on manufacturers that don't have an assembly plant in the country.


As a result of this reduction in tariffs, Hyundai was able to release new prices for its entire lineup of vehicles. Savings are substantial for clients and can reach up to $1300 per vehicle depending on the model selected.

 

Vehicle

Previous MSRP

New MSRP

Difference

Accent L (M6) 5dr

$13,899

$13,599

-$300

Elantra GL (A6) Sedan

$20,999

$19,449

-$650

Veloster (M6)

$18,299

$17,999

-$300

Equus Ultimate

$72,299

$71,000

-$1,299

Santa Fe XL

$31,299

$29,999

-$1,300

 

For the President of Hyundai Canada, Don Romano, "This price reduction demonstrates without a doubt that the free-trade deal between Canada and South Korea provides concrete advantages to consumers. We're of the opinion that, by eliminating international trade barriers, consumers will be better able to make informed decisions by basing themselves on the merits of each product. Price is most certainly a key consideration in any purchase decision, hence, by reducing the prices of our Hyundai vehicles, consumers can now better appreciate just how competitive our products are," explained Mr. Romano.


The free-trade deal between Canada and South Korea plans for the complete elimination of this tariff in 3 annual tranches. The first reduction came into effect on January 15th, 2015.
 

For more information, contact Riendeau Hyundai!

 

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