Photo: Hyundai
A couple of weeks ago, a Hyundai dealer sold an Ioniq 5 to a fellow dealer at the suggested retail price. A $2,000 markup ensued, and that’s only the tip of the iceberg. Another Hyundai dealer added a market adjustment of $20,000 on the all-electric utility vehicle, which is borderline insane for a Hyundai. Emphasis on insane, and this is coming from a Hyundai owner.
As opposed to General Motors with the mid-engine Chevrolet Corvette and Ford Motor Company with the body-on-frame Bronco, the peeps at Hyundai Motor Group aren’t really amused by this worrying trend. According to letters obtained by Automotive News, the South Korean automaker and the Genesis marque have warned their stateside dealers of “potential actions.”
More specifically, the cited publication highlights “reductions in future allocations, advertising benefits, and other incentives.” That’s just a slap on the wrist, if you will. Retailers have the liberty of setting their own prices, which means that ADMs will soldier on for the foreseeable future.
Be that as it may, both makes are worthy of a thumbs up because additional dealer markups alienate potential customers. Worse still, Automotive News highlights that some dealers advertise one price online, then mark up that price when the customers come into the showroom. As shady as it gets…
Joining the Ioniq Electric and Kona Electric, the Ioniq 5 carries a sticker price of $43,650 excluding destination charge. Three grades are currently listed by the U.S. configurator: the SE, SEL, and well-equipped Limited.
All of them promise 303 miles (487 kilometers) of driving range as per the Environmental Protection Agency’s test cycle, which is exactly the same rating as the heavier, quicker, and more expensive Model Y Performance.
HTRAC AWD, in the guise of an extra motor driving the front wheels, is also available, ranging from $3,500 for the SE and SEL to $3,900 for the Limited. At the moment of writing, Ioniq 5 customers are offered a choice of two color options for the interior and six color options for the exterior.
More specifically, the cited publication highlights “reductions in future allocations, advertising benefits, and other incentives.” That’s just a slap on the wrist, if you will. Retailers have the liberty of setting their own prices, which means that ADMs will soldier on for the foreseeable future.
Be that as it may, both makes are worthy of a thumbs up because additional dealer markups alienate potential customers. Worse still, Automotive News highlights that some dealers advertise one price online, then mark up that price when the customers come into the showroom. As shady as it gets…
Joining the Ioniq Electric and Kona Electric, the Ioniq 5 carries a sticker price of $43,650 excluding destination charge. Three grades are currently listed by the U.S. configurator: the SE, SEL, and well-equipped Limited.
All of them promise 303 miles (487 kilometers) of driving range as per the Environmental Protection Agency’s test cycle, which is exactly the same rating as the heavier, quicker, and more expensive Model Y Performance.
HTRAC AWD, in the guise of an extra motor driving the front wheels, is also available, ranging from $3,500 for the SE and SEL to $3,900 for the Limited. At the moment of writing, Ioniq 5 customers are offered a choice of two color options for the interior and six color options for the exterior.
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