New small car prices have already been at 20-year lows, which are now set to create further tough competition as battle between two rival brands heat-up. South Korean automakers, Kia and Hyundai have taken up yet another challenge that is likely to bring good news for consumers around the world.
As prices hit new lows, Toyota and Nissan have rolled back their small car prices to what they had been in 1994. As a result, other automakers have been forced to slash down their prices, but Kia and Hyundai have different strategies.
Both sister companies – that share automotive technologies, development and design resources but their sales and marketing operations are fierce competitors – have had major changes in their management. As a result of these changes, the 5 percent import tariff on South Korean cars have been eliminated that will result in major price cut-offs.
Additionally, Kia approached a high-ranking executive from Hyundai Australia, Damien Meredith, and made him the new boss. It was Mr. Meredith who helped double the sales of Hyundai in 2005, raising the company to the fourth-biggest auto brand in Australia behind Toyota, Holden and Mazda. The outcome of this appointment is very obvious.
The new selection is likely to increase competition in the coming months and compel rival brands to react, giving buyers a better choice of discounted cars.
Discover Kia 2014 Cars
Discover Kia 2014 Cars