31 Aug 23

Hyundai slashes prices on electrified vehicles in Brazil

Hyundai slashes prices on electrified vehicles in Brazil

The suggested retail price of the compact hybrid sedan Hyundai Ioniq in Brazil, locally known as the CAOA Hyundai, has been slashed 25% to BRL $149,990 (USD $30,301) from BRL $199,999 earlier this year.

Regarding battery electric vehicles (BEV), the compact SUV Hyundai Kona currently has a price tag of BRL $189,999, being 14% less than the BRL $219,999 price announced at the start of 2023, and an original announcement of much more.  

Discounts occurred after a renegotiation of values with Hyundai headquarters in South Korea and the improvement in the economic scenario of Brazil.

Meanwhile, BEV rivals from China have been entering Brazil this year. Among them are the subcompact sedans BYD Ora 3 and GWM Dolphin, both with a starting price of BRL $150,000. Although not new to the market, the CAOA Chery 5x (hybrid SUV) also boasts a competitive price which starts at BRL $154,900.

Photo: Hyundai Ioniq (courtesy of Hyundai)

Authored by: Daniel Bland