Hyundai IONIQ lineup with summer discounts in Spain
Toyota should learn something from Hyundai.
The complete Hyundai IONIQ lineup – Hybrid, Plug-in Hybrid and Electric – is now selling with summer discounts in Spain.
Summer is the best time to sell cars powered by batteries, since the higher temperatures help to increase the electric range of the cars and impress potential buyers. Renault-Nissan Alliance is known to discount their electric cars in the summertime, now it’s time for Hyundai to follow the same recipe.
Let’s see the discounts offered by Hyundai Spain.
Hyundai IONIQ Hybrid
Hyundai discount: 4.200 €
Final starting price: 24.000 € – 4.200 € = 19.800 €
Hyundai IONIQ Plug-in Hybrid
Hyundai discount: ??? (1)
Government incentive: 2.600 €
Final starting price: 26.450 €
(1) Hyundai Spain only announced the final starting price for the Hyundai IONIQ Plug-in Hybrid with all incentives and discounts included.
Hyundai IONIQ Electric
Hyundai discount: 5.950 €
Government incentive: 5.500 €
Total discount: 5.950 € + 5.500 € = 11.450 €
Final starting price: 34.600 € – 11.450 € = 23.150 €
As the Spanish website Forococheseléctricos stated, Toyota will have a tough time selling the Prius in Spain, where its starting price is 29.990 €, since the Hyundai IONIQ Hybrid at 19.800 € is 10.190 € cheaper.
The Hyundai IONIQ lineup with Hybrid, Plug-in Hybrid and Electric variants is what Toyota should do with the Prius.
Now the real question is: when will Hyundai IONIQ Electric no longer be production constrained?
The recent increased production output of 1.800 monthly units is definitely not enough. Even the already planned production output increase to 4.000 monthly units might not be enough for a model that’s available worldwide. Especially if Hyundai keeps lowering the price, as I expect.
I think that production increases of the electric variant will be accompanied by price reductions. Hyundai clearly has the profit margin to do it, since this electric car has a 28 kWh battery that at current prices, costs Hyundai less than 5.000 € at the pack level. Given that the hybrid version is much more complex to produce, the final cost to produce either variants is very similar.
“The cost of pure electric depends very much on range. Up to 250 km (155 mile) range, battery-electric vehicles already can be built for less money than hybrids.”
It would be great to see the Hyundai IONIQ Electric being challenged by a Toyota Prius EV.
What do you think? Why is Hyundai lowering the IONIQ’s price while it’s still production constrained? Is Hyundai learning from the successful Tesla Model 3’s example of getting reservations before having the production capacity to fulfill demand? As a way of moving people away from the competition and get some deposits, maybe!?