Finally, it looks like the other shoe is dropping. Nine days after Toyota slashed prices on 16 of its Canadian models, its greatest emulator, Hyundai, has followed suit. CanadianDriver.com reports that Hyundai has recently clawed back the prices the Tiburon and the Tuscon L by $3,000 and $4,200 respectively. So how does this stack up against U.S. pricing? According to Hyundai.com, a new base-level Tiburon now costs $15,995 in Canada vs. $17,025 south of the border. The Tuscon is now cheaper north of the border, at $16,995 versus $17,235 in America. Before you Americans start drafting your business plan around a Canadian domestic market importation scheme, beware: the base Sonata is still more expensive in Canada, relieving of you $18,995 Canadian or $17,670 American. Now that Chrysler, Toyota and Hyundai have put the squeeze on dealers at other car companies' franchises, we expect many more "adjustments" to come. [thanks to Dave McDonald for the tip]
Find Reviews by Make:
Read all comments
Yesterday March 6th, I toured the Toyota Manufacturing plant in Cambridge, Ontario, This place makes The Matrix. The Corolla and the Lexus RX330! This Lexus Plant is the only manufacturing unit outside of Japan and the bulk of its production goes too the USA.
All in all it was a good tour and it helped as I had a friend who recently retired from GM in Oshawa Ontario who thought the working conditions here in Cambridge was far better than at GM and he said they are better off without a Union as far as he could tell!
I agree the Cambridge plant is a very well oiled machine (had a tour of the Lexus plant there & came away very impressed).
It’s about time the automakers adjusted their prices for the stronger Canadian dollar.
Are you sure you’re matching comparable levels of equipment on the cars? The base 2009 Matrix lists for $500 less in Canada but after matching A/C, PDI, power doodads and taxes on both models it is $2500 more at a 1:1 exchange rate.
A move in the right direction. Needless to say, that still leaves most other manufacturers idle on the issue. On the bright side, Mazda is offering 0%/60mths on most if not all of their products, which is welcome news, although it does hurt a bit resale value.
The 0% financing is nice but compared to say 5.5% over 3 years it doesn’t quite make up for the deficit against buying a Mazda in the US. It brings the Canadian price within negotiating range ($1400 difference), that’s it.
Having run the USCAN price comparison on a number of new hatchbacks, that’s about as equal as it gets.
So Canadian Hyundai dealers will now experience a massive drop in revenue? How’s that going to affect them? What do businesses usually do when revenues fall 15% or 20%?
i6:
I agree w/you but it’s a move in the right direction. Better than Honda taking adds in the paper saying how much they’re doing to reduce the price difference – hypocrites!