Hyundai Increases Option Content and Re-Prices its Product Line
22 April 1999
Hyundai Increases Option Content and Re-Prices its Product Line to Provide Even Greater Value FOUNTAIN VALLEY, Calif., April 21 -- Hyundai Motor America is
introducing revised packaging and pricing on all four of its car model lines,
the company announced today.
"We're lowering our average prices on products equipped with the features
consumers want the most," said Finbarr O'Neill, President and CEO of Hyundai
Motor America. "Together with America's best warranty, these changes give
Hyundai an even greater value advantage."
The change is effective with March production, which will appear in
dealerships beginning in late April. During the transition, Hyundai will
refer to existing 1999 model line inventory as "99A" and the newly re-packaged
products as "99B."
The most significant changes affect the Elantra sedan and wagon, which
will have only one trim level, instead of the current GL and GLS trim levels.
The number of option packages has decreased, and prices on popular options
have been lowered.
Elantra's MSRP will be $11,799 for the sedan and $12,699 for the wagon.
While this is a $300 increase from the 99A base Elantra, the 99B Elantra is
equipped with cruise control, power windows, power mirrors and power locks),
as well as a split folding rear seat on the sedan and roof rack side rails on
the wagon. On the 99A Elantra, cruise control was a $250 option, and the
power package was available only on the GLS trim level, which cost $1,250 more
than the base model. As a result, to get the same equipment on a 99A Elantra,
the buyer would spend $1,200 more.
Air conditioning continues to be standard equipment on all Elantras.
Hyundai's subcompact Accent will continue to have three trim levels: The
L and GS three-door hatchbacks and the GL four-door sedan. With the 99B
models, prices on all three trim levels have been lowered.
The entry-level L model, which is one of the lowest-priced cars in
America, will have an MSRP of $8,749 (down from $8,999), yet power steering
has been added as standard equipment. Previously, power steering was not
available on the Accent L.
Pricing on the GS and GL models has been reduced by $400 to $9,499, yet
alloy wheels, previously available only as part of the sporty option package,
have been added. Also, prices on many popular options will be lower with the
introduction of the 99B Accent GS and GL models.
For example:
Accent option 99B price 99A price Reduction
Air conditioning $750 $995 $245
Automatic transmission $600 $800 $200
Sporty package $2,200 $2,740 $540
The all-new 1999 Sonata sedan will continue to have an MSRP of $14,999 for
the base model and $16,999 for the GLS model. With the 99B models, automatic
transmission is a $500 option -- $300 less than with 99A Sonata models.
Keyless remote entry, formerly an option costing $186, is now standard on all
Sonatas. Cruise control, a $250 option on the 99A Sonata, has been added to
the base model. The Sonata GLS is now equipped with Hyundai's premium AM/FM
cassette/CD radio.
All Sonatas will continue to have standard side air bags and air
conditioning.
With the introduction of Hyundai's 99B models, there will be fewer Sonata
option packages, and option prices have been reduced. For example, on the
base 99B Sonata, a buyer can add an AM/FM ETR Stereo CD radio upgrade and a
power tilt/slide moonroof with sunshade for $925 -- a $250 reduction from a
similarly equipped 99A model. On the 99B Sonata GLS, the top-of-the-line
package featuring power tilt/slide moonroof, leather seating, power driver's
seat and ABS/traction control, is now $2,600. The same package cost $3,225 on
the 99A Sonata GLS.
The Tiburon sporty coupe will continue to be sold in base and FX trim
levels. The MSRP on both trims will increase $400, air conditioning and
cruise control are now included on every Tiburon. Formerly, on the base
Tiburon, air conditioning was part of a package costing $1,395, and cruise
control was not available. On the Tiburon FX, air conditioning and cruise
control were formerly part of a package costing $1,595.
Hyundai Motor America also announced consumer incentives for the second
quarter. These incentives reflect the transition from 99A models to 99B
models. Second quarter incentives are:
99A models 99B models
Accent $1,000* Accent $500
Elantra $1,000 Elantra $500
Tiburon $1,500 Tiburon $500
Sonata 0 Sonata 0
* $1,250 in Southern Region
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a
subsidiary of Hyundai Motor Co. of Korea. Hyundai cars are distributed
throughout the United States by Hyundai Motor America and are sold and
serviced through nearly 500 dealerships nationwide.