SEOUL, April 20 (Korea Bizwire) – Hyundai Motor Co. has lowered the prices of its i30 hatchback models to attract customers amid tougher competition from rivals, the carmaker said Thursday.
Hyundai Motor has cut the mainstay hatchback’s sticker price by 250,000 won to 1.25 million won (US$219-$1,097) in the domestic market, South Korea’s biggest carmaker by sales said in a statement.
The carmaker has also reduced the number of trims for the car from nine to five. It cut the trims for the 1.4-liter turbo gasoline-powered version from four to two and those for the 1.6-liter turbo gasoline-powered i30 from two to one. Also, there are now only two trims for the 1.6-liter diesel i30 instead of three, it said.
It has also allowed customers to have more say in choosing options and features.
After the price cuts, the i30 models are currently available at a range of between 18.9 million won and 24.9 million won.
Hyundai and other Korean carmakers are moving to enhance the value prospect of their cars in the face of stiff competition from imports, and the shifting trend of consumers who are attracted by the perception of luxury and uniqueness provided by foreign cars.