{"id":49926,"date":"2023-05-18T06:03:18","date_gmt":"2023-05-18T10:03:18","guid":{"rendered":"https:\/\/autosector.com\/?p=49926"},"modified":"2023-05-18T06:03:18","modified_gmt":"2023-05-18T10:03:18","slug":"hyundai-knee-jerk-reaction-tesla-price-cuts","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=49926","title":{"rendered":"Hyundai Won\u2019t Take A \u201cKnee-Jerk Reaction\u201d To Tesla\u2019s Price Cuts, Says European CEO"},"content":{"rendered":"

Tesla\u2019s price cuts have prompted a new response from a rival automaker, and this time it\u2019s Hyundai that takes to the stand to explain how it will handle the issue of lowering prices for its EVs.<\/p>\n

Speaking during the Reuters Automotive Conference in Munich, Hyundai\u2019s European CEO Michael Cole said that the carmaker was not making a direct change to its pricing strategy, adding that customers need reassurance that prices won\u2019t go up and down, in a jab at Tesla<\/a>\u2019s sometimes confusing price changes<\/a>.<\/p>\n

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“We are not taking what I’d call a knee-jerk reaction to what the competition does… we know that Tesla’s pricing will alert some consumers to consider Tesla that hadn’t before, so of course you have to look at that,” Hyundai Motor Co Chief Executive for Europe Michael Cole said.<\/p>\n<\/blockquote>\n

Furthermore, the European chief said that Hyundai<\/a> has to be confident in its pricing strategy, hinting that retail prices will remain the same for the time being, at least in Europe.<\/p>\n

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The Korean carmaker, which manufactures electric models like the Tesla Model Y<\/a>-rivaling Hyundai Ioniq 5<\/a>, isn\u2019t the first voice in the automotive industry to disagree with the Elon Musk<\/a>-led EV brand.<\/p>\n

Recently, American EV startup Rivian<\/a>, which makes the R1T<\/a> pickup and R1S<\/a> SUV, reaffirmed its determination to not cave in to cutting prices, with the firm\u2019s CEO, RJ Scaringe, saying that the \u201cflagship\u201d prices aren\u2019t going anywhere<\/a>.<\/p>\n

Additionally, Ford<\/a> CEO Jim Farley went on to compare the price war started by Tesla to Henry Ford\u2019s price cuts for the Model T <\/a>starting in 2013, but later went on record describing the current price cutting as \u201ca worrying trend,\u201d and that Henry Ford\u2019s strategy ultimately put the company at risk.<\/p>\n

Currently, the Tesla Model Y, which is the EV maker\u2019s best-selling vehicle in the United States, is more affordable than the average new car or truck<\/a> in the United States, according to a recent report by Bloomberg.<\/p>\n

As always, we\u2019d like to know what you think about this, so head over to the comments section below to give us your thoughts.<\/p>\n

<\/section>\n","protected":false},"excerpt":{"rendered":"

Tesla\u2019s price cuts have prompted a new response from a rival automaker, and this time it\u2019s Hyundai that takes to the stand to explain how it will handle the issue of lowering prices for its EVs. Speaking during the Reuters Automotive Conference in Munich, Hyundai\u2019s European CEO Michael Cole said that the carmaker was not […]<\/p>\n","protected":false},"author":1,"featured_media":49927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/49926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49926"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/49926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/49927"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49926"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}