Prices chopped to lure Hyundai buyers

By ALASTAIR SLOANE

Hyundai has slashed prices of its vehicles by up to $6000 in an attempt to get back the 6 per cent share it had of the New Zealand new-car market in 1997.

It has also changed the specification of its cars from European Union requirements to Australian Design Rule standards.

"This is to improve the synergy with the Australian market in both terms of model availability and parts supply," said general manager Philip Eustace. "The first of the ADR cars will arrive late next month."

The Korean company will also upgrade its dealer network over the next 12 months, starting with a new corporate identity. Hyundai, mostly because of strong fleet sales, regularly had more than 4 per cent of the market through the 90s.

But its share has slumped in the past couple of years in a new and used-import market which has become all the more competitive.

This year, until the end of May, Hyundai had sold 711 vehicles - 12 more than Volkswagen and 109 less than BMW - for a 2.2 per cent share.

A few years ago it would have been well ahead of the two Europeans after five months.