Together with KIA, and using its e-GMP platform as a base, Hyundai is now one of the generalist companies with the best technology for its electric vehicles. It is one of the few companies, along with Porsche, that has opted for the 800 V architecture for the electrical system of its vehicles. Well, from day one they have one of the best alternatives to the Tesla Model 3 and its recent renewal, the ‘Highland’. However, they were completely left out in price and now they have just taken measures, with a strong discount, to become competitive again. It is the biggest reduction they have ever made to this model, and it is their best electric car.
In the United States, they have already announced that the Hyundai IONIQ 6 will have a price that is $4,100 cheaper with the small renewal of the range for 2024. They have confirmed this from the company itself by pointing out that thanks to the ‘efficiency and production scale’ can now offer lower prices than when the model was launched on the market. And evidently, the key to the decision to lower prices across the entire range is in the recent arrival of the Tesla Model 3 Highland. It has not only maintained the price of the previous version of the model but has also improved its performance, renewed its design, and now has more standard equipment. And of course, it has been in a constant progressive reduction of its prices all year.
The entire range of the Hyundai IONIQ 6 drops in price, with big discounts to face the new Tesla Model 3 Highland
At the end of last month, we talked about the problem of the Hyundai IONIQ 6 with its prices, and we highlighted then that it is a very interesting electric vehicle, and a model with the potential to be the strongest competitor of the Tesla Model 3, but that due to its Outdated prices don’t have the demand they could receive. It arrived at an attractive price, but the biggest problem is that Tesla has been lowering prices practically throughout the year, and, yet, Hyundai has remained at the same rates with which this model was launched on the market. Right now, in Spain, it is available for 39,210 euros.
The basic configuration of the Hyundai IONIQ 6, which by the way offers 429 km of range under the WLTP cycle, has just dropped in price by $4,100 in the United States. This version, remember, uses a battery with 53 kWh energy storage capacity and has a motor with 151 HP maximum power. There are also other configurations, both with 77.4 kWh of battery, which are available with 229 HP and 325 HP of maximum power. The first of these two with 614 km of WLTP range, and the second with 519 km.
These two versions have also dropped in price to $3,000, but the bad news is that for the moment the news of these price cuts has been limited to the United States. However, we have already seen how Tesla, for example, has started its discounts in the United States, or China, on previous occasions, and then they have arrived in Europe. In this case, the most normal thing would be for Hyundai to announce discounts on the 2024 range of the Hyundai IONIQ 6 for Europe shortly.
Little by little, and especially because of Tesla and because of the new Chinese brands, competition in the electric car market is becoming greater. So it is normal that manufacturers like Stellantis are beginning to have more aggressive commercial strategies with new cheaper products, and that brands like Hyundai, which already have notable electric vehicles on the market, adjust to lower prices. But, as I told you, now we have to wait for these new prices to reach Europe, and specifically to the Hyundai catalog in Spain.