Hyundai Cuts EV Lease Prices To Lowest Till Date At $229 Amid Growing Market Competition
Portfolio Pulse from Benzinga Neuro
Hyundai has announced a reduction in lease rates on its IONIQ 5 and IONIQ 6 electric vehicles (EVs), offering some of the lowest rates since their launch. The lease prices of these vehicles are dropping by $50 monthly, starting at approximately $229 per month. This price reduction comes after Tesla Inc. recently lowered its Model 3 lease price by up to $100 to $329 with $5,524 down. Hyundai's electric vehicles have been gaining traction in the U.S. market, with the company setting a September record with EV sales soaring 203%.
October 18, 2023 | 9:45 am
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POSITIVE IMPACT
Hyundai's reduction in lease rates for its IONIQ 5 and IONIQ 6 EVs could potentially increase its market share in the EV market.
The reduction in lease rates could make Hyundai's EVs more attractive to consumers, potentially leading to increased sales and market share. This could have a positive impact on Hyundai's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla's recent reduction in lease price for its Model 3 could face competition from Hyundai's lower lease rates.
Hyundai's lower lease rates could potentially attract consumers away from Tesla's Model 3, which could negatively impact Tesla's sales and market share.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80