Pricing Strategies of Hyundai

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  • Topic: Hyundai Santa Fe, Hyundai Motor Company, Hyundai Sonata
  • Pages : 2 (545 words )
  • Download(s) : 433
  • Published : April 25, 2010
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1 March 2006
Immediate Release

Hyundai Launches Family Pricing Strategy and Standardises Parts Prices
The cost of owning and servicing a Hyundai has never been cheaper for Kiwi motorists from this week. Hyundai Automotive New Zealand has announced a revolutionary new parts policy that will see genuine part prices across Hyundai’s model range standardised, and in many cases becoming considerably cheaper. Known as the Family Pricing Strategy, the policy sees the price of regular maintenance genuine Hyundai parts standardised across models, and is the first step toward standardised service costs. Surveys by Hyundai revealed the company already had competitively priced genuine parts, having similar prices to the aftermarket competitors and in many cases beating them. Hyundai New Zealand Aftermarket Manager Peter Tolley said getting the company’s spare parts aligned across the model range was the first part of the company’s strategy to keep ownership costs as low as possible for all Hyundai vehicles. It would also ensure customers have the reassurance of genuine Hyundai parts which come with a 12 month, 20,000km warranty. The “grey”parts market is a worldwide problem for the motor industry because many parts are substandard and unsafe. To combat this Hyundai Motor Company has been keen to get involved in this local initiative. “Working closely with Hyundai Motor Company and its suppliers has meant that we are able to offer some substantial reductions in pricing to benefit the New Zealand consumer,” stated Mr Tolley. “We expected customers to benefit from some substantial parts savings, particularly on the larger vehicles such as Terracan, Santa Fe and the new Grandeur” said Mr Tolley. “You will see genuine components like front brake pads drop from anything up to $253 each down to $85 under the Family Pricing Strategy. Simple components like oil filters on our petrol engines will drop from up to $38 down to $15.75. These savings are genuine,...
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