Why Are Hyundais So Cheap?
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If you’re interested in a new vehicle, it doesn’t hurt to save a little money on a brand-new car. Hyundai is an excellent brand - and the rumor is that their automobiles are very cheap. If you were thinking about this brand, you might wonder - why are Hyundais so cheap? Is this rumor true?
Read on to learn more about the affordable Hyundai price point. We’ll talk about whether or not they’re cheap, what makes them that way or not, and other information that pertains to the price point. Why are Hyundais so cheap? Is this statement true? Let’s find out together.
Are Hyundais Cheap?
First, it’s critical to address the elephant in the room - are Hyundais cheap, or is it just a rumor? What’s the average price point for models from this brand?
Hyundais are cheaper than the average brand. According to truecar.com, the price point for new models falls around $25,000. They also offer leasing options with tiny profit margins. This item allows users to get the cars for much less than other options.
It might be suspicious to some that Hyundais are this affordable. Why are Hyundais so cheap? What makes them cost so much less than competitors on the market?
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What Makes Hyundais Inexpensive?
There is a good reason behind the low price of investing in a Hyundai. It’s critical to investigate this factor. For some, the cause of the low price might not make it worth saving a little money on the model.
According to fourwheeltrends.com, Hyundais are affordable because they utilize less expensive products in the manufacturing process. They are also:
- Produced in large quantities: Hyundais are produced in large quantities to appeal to companies.
- Made in-house: Hyundais are made in-house and thus offer immediate savings for customers.
- Low demand: Although Hyundais are on the same level as vehicles like Honda or Ford, they don’t have as much renown.
- Old technology: Most Hyundais have older technology, as opposed to updated versions of their competitors.
This helps lower the cost of the car.
The low price of materials doesn’t mean that Hyundais are bad cars. They are some of the best on the market for the price in terms of quality. Still, you sacrifice items like updated technology and interior design for a lower cost.
Has COVID Impacted the Pricing?
Although the COVID-19 pandemic impacted the pricing of many vehicles, it had a positive impact on Hyundais. Due to their commitment to affordability, sales rose at a time when other companies fell apart.
According to coxautoinc.com, Hyundai’s market value increased by half a percentage in 2020, one of the worst years to work with a business in the pandemic.
Commitment to improving value without increasing price makes Hyundai stand out from the competition. The pandemic only increased Hyundai’s quality reputation, which furthers their strategy to leave behind a past of poorly manufactured vehicles.
It will be interesting to see how Hyundai continues out of the pandemic. They are committed to improving quality and decreasing prices at the same time.
What Are the Cheapest Models?
Now that we’ve discussed why Hyundais are so cheap and the factors that came with COVID-19, let’s discuss some of the most affordable options. If you want to save money and get a Hyundai, which will cost you the least in your investment?
According to truecar.com, here are the cheapest models out of the newest Hyundai lineup:
- Hyundai Accent at $17,740
- Hyundai Venue at $20,295
- Hyundai Elantra at $21,295
- Hyundai Kona at $22,295
These cost the least out of the newest choices.
If you want an upgrade, the most expensive model starts at $45,295. It doesn’t take much to invest in a vehicle if you go with Hyundai as your brand of choice.
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Are Hyundais Reliable?
We’ve discussed the secret of the Hyundai cost and the most affordable options, but what about the reliability? If a car isn’t reliable, you’ll have to pay more for repairs and other necessary additions. Can you rely on a Hyundai to keep you from unnecessary expenses?
According to echopark.com, Hyundai ranked 6 out of 26 on Consumer Reports. It was even ahead of more well-known brands such as Ram and Honda. Hyundai ranks two points above average when looking at reliability scores on the road.
Reliability takes into consideration factors such as:
- Coverage
- Industry standing
- Cost
- Critical reception
- Customer service
These can make or break a brand.
Hyundai also ranked ⅘ on Repairpal. This score puts it 4th out of 32 car brands on the market.
Although Hyundais are cheap, they don’t sacrifice quality. It’s an excellent brand with a long way to go in the car industry.
How Much Does It Cost to Maintain a Hyundai?
How much does it cost to keep your Hyundai in tip-top shape? If it’s more to fix a car every year than you paid for it, there is no point in purchasing a vehicle from the brand. What does it take to maintain a Hyundai as an owner?
According to repairpal.com, it costs about $468 to maintain a Hyundai every year. This cost is almost $100 below the industry average, making it easy to maintain a Hyundai. Almost anyone can handle that price.
Between the low price and low maintenance cost, a Hyundai is an affordable option if you want to save money. There are many ways to save here.
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Conclusion
Why are Hyundais so cheap? They’re made in bulk, offer older technology, are made with less expensive parts, and are in low demand. Despite these qualities, they are some of the best quality vehicles you will find for this price. Hyundais are well-crafted for their price point and have grown more popular over the pandemic.
We hope this information was helpful! Many shy away from Hyundai due to its low price, but there’s nothing to worry about. Hyundai vehicles are some of the best of the best, and they will save you money at the same time. It might be the car for you!
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