Whats the G70 pricing already !!

[Mark_888]

Super excited!

I think he is talking about Canada pricing and availability, not USA. You may need to take a cold shower and chill out for a couple more months.

 

[GV70GUY]

I think he is talking about Canada pricing and availability, not USA. You may need to take a cold shower and chill out for a couple more months.

You could do a Canadian to US conversion and get a pretty close idea on US pricing outside of any tariff's Trump might put on it.

 

[g70]

You could do a Canadian to US conversion and get a pretty close idea on US pricing outside of any tariff's Trump might put on it.

Yeah don't anyone tell him it's Korean.... We all know how confused he gets...

 

[Bamm1]

You could do a Canadian to US conversion and get a pretty close idea on US pricing outside of any tariff's Trump might put on it.

That will likely not prove accurate. Vehicles cost ~15-18% more in the US than they do in Canada (with a couple of exceptions - the Stinger is 30% more in the US than it is in Canada ).

 

[Mark_888]

That will likely not prove accurate. Vehicles cost ~15-18% more in the US than they do in Canada (with a couple of exceptions - the Stinger is 30% more in the US than it is in Canada ).

That's only because the value of the Canadian Dollar has dropped about 25% against the US dollar in the last few years. In 2013, it was about 1.00 USD for each 1.00 CAD. But it is now about 0.76 CAD for each USD. Even though the CAD has dropped in value, most importers are just eating the extra cost because they think in the long run it will even out.

The USD is about the same against the Korean Won as it was in 2013, but it has fluctuated quite a bit in the last 5 years, but Hyundai has kept US prices steady.

 

[GenesisYEG]

G70 pricing to be unveiled sometime this week. I will keep you all posted.

 

[g70]

G70 pricing to be unveiled sometime this week. I will keep you all posted.

Yay! ... I hope...

 

[Bamm1]

That's only because the value of the Canadian Dollar has dropped about 25% against the US dollar in the last few years. In 2013, it was about 1.00 USD for each 1.00 CAD. But it is now about 0.76 CAD for each USD. Even though the CAD has dropped in value, most importers are just eating the extra cost because they think in the long run it will even out.

The USD is about the same against the Korean Won as it was in 2013, but it has fluctuated quite a bit in the last 5 years, but Hyundai has kept US prices steady.

Sorry but that is not correct. It may be my fault for not being specific enough. First you would convert from CAD to USD to compensate for the currency value difference. Then you add 15-18% (on average) to the converted price. Then that will get you to the pricing in the US.

For example, the G80 Sport HTRAC is 62,000 CAD. This converts to 47,461.62 USD. The US price is 57,750 USD. Therefore, the G80 Sport HTAC costs 21.68% more in the US than it does in Canada.

 

[Mark_888]

Sorry but that is not correct. It may be my fault for not being specific enough. First you would convert from CAD to USD to compensate for the currency value difference. Then you add 15-18% (on average) to the converted price. Then that will get you to the pricing in the US.

For example, the G80 Sport HTRAC is 62,000 CAD. This converts to 47,461.62 USD. The US price is 57,750 USD. Therefore, the G80 Sport HTAC costs 21.68% more in the US than it does in Canada.

I understand completely. But what I am saying is that Hyundai does not continuously adjust its prices for currency exchange rates. Back in 2013, there was not the same kind of price difference between the Canadian and US models, because the CAD was stronger back then against the USD.

Back in 2013, 62,000 CAD would have converted to about 62,000 USD. In fact, I am pretty sure that the Hyundai Genesis cost more in Canada back then compared to the US, based on 2013 currency exchange rates.

So the Genesis looks cheaper in Canada than in the US. because the Canadian dollar has fallen so much against the USD, and Hyundai Canada has decided to keep prices the same in Canada anyway.

When you have an imported car, currency exchange rates can be complicated, because they can vary so much even within one year, but automakers don't like to vary their local prices very much. They tend to take the long view, and hope that things even out in the long run. That's one reason why production of most vehicles sold in the USA has moved to the US or Canada from Japan or Korea (and even Germany).

 

[Bamm1]

I understand completely. But what I am saying is that Hyundai does not continuously adjust its prices for currency exchange rates. Back in 2013, there was not the same kind of price difference between the Canadian and US models, because the CAD was stronger back then against the USD.

Back in 2013, 62,000 CAD would have converted to about 62,000 USD. In fact, I am pretty sure that the Hyundai Genesis cost more in Canada back then compared to the US, based on 2013 currency exchange rates.

So the Genesis looks cheaper in Canada than in the US. because the Canadian dollar has fallen so much against the USD, and Hyundai Canada has decided to keep prices the same in Canada anyway.

When you have an imported car, currency exchange rates can be complicated, because they can vary so much even within one year, but automakers don't like to vary their local prices very much. They tend to take the long view, and hope that things even out in the long run. That's one reason why production of most vehicles sold in the USA has moved to the US or Canada from Japan or Korea (and even Germany).

It is really hard for me to wrap my head around knowingly losing money. I can see the issue with an existing model. You don't want to add a 25% price increase for a mid-cycle refresh because the currency valuation has dropped since it was launched. The market would likely not support that. But if it was just currency fluctuations I would expect a similar difference in price across the Hyundai/Genesis/Kia line up. Maybe it would vary a few percent. But that is not what we see. The G90 costs 10% more in the US, the G80 Sport costs 21% more in the US and the Stinger GT costs 30% more in the US (while also missing options). That is a very large range. Which leads me to believe that Hyundai/Genesis/Kia think there is more money to be had for specific models in certain markets vs. others.

And with all that said, even when the Canadian pricing is announced, it will likely tell us nothing about how it will be priced in the US.

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[Mark_888]

It is really hard for me to wrap my head around knowingly losing money. I can see the issue with an existing model. You don't want to add a 25% price increase for a mid-cycle refresh because the currency valuation has dropped since it was launched. The market would likely not support that. But if it was just currency fluctuations I would expect a similar difference in price across the Hyundai/Genesis/Kia line up. Maybe it would vary a few percent. But that is not what we see. The G90 costs 10% more in the US, the G80 Sport costs 21% more in the US and the Stinger GT costs 30% more in the US (while also missing options). That is a very large range. Which leads me to believe that Hyundai/Genesis/Kia think there is more money to be had for specific models in certain markets vs. others.

Most Hyundai or Kia vehicles sold in the USA, are made in North America. Also, for vehicles made in Korea, what is important is the exchange rate of the Korean Won vs the USD (for vehicles imported into the USA), or Korean Won vs the CAD (for vehicles imported in CA), not the currency exchange between CAD and USD.

German cars have the same issue, as there has been significant fluctuation between the Euro and the USD over the last few years, but they "try" and keep prices fairly steady, otherwise it would create chaos in the auto market. So when the USD goes down, they don't make as much money, versus when the USD goes up. But just because the USD goes down, doesn't mean they lose money (just don't make as much as before). But that is also why a lot of production has moved to the USA.

And with all that said, even when the Canadian pricing is announced, it will likely tell us nothing about how it will be priced in the US.

I agree with that.

 

[Bamm1]

Most Hyundai or Kia vehicles sold in the USA, are made in North America. Also, for vehicles made in Korea, what is important is the exchange rate of the Korean Won vs the USD (for vehicles imported into the USA), or Korean Won vs the CAD (for vehicles imported in CA), not the currency exchange between CAD and USD.

German cars have the same issue, as there has been significant fluctuation between the Euro and the USD over the last few years, but they "try" and keep prices fairly steady, otherwise it would create chaos in the auto market. So when the USD goes down, they don't make as much money, versus when the USD goes up. But just because the USD goes down, doesn't mean they lose money (just don't make as much as before). But that is also why a lot of production has moved to the USA.

So a given market can only support a specific price point. If the exchange rate is not favorable you just have to eat it in that market. Well, I guess you could send more product to markets where the exchange rate is more favorable to try to compensate for lost profits. And with the global profit plan some customers benefit and some help bolster the bottom line.

 

[Mark_888]

So a given market can only support a specific price point. If the exchange rate is not favorable you just have to eat it in that market. Well, I guess you could send more product to markets where the exchange rate is more favorable to try to compensate for lost profits. And with the global profit plan some customers benefit and some help bolster the bottom line.

I am not exactly sure what the thought process is by the automakers, but if you look at the gyrations of the CAD vs the Korean Won the last 5 yeas (the CAD has lost a lot value, I assume because the crash in oil and gas prices), and compare that to the relatively steady price of a Hyundai Genesis or G80 in Canada over those same years, you can see what I am talking about.

In many cases they probably think that the currency changes will eventually reverse, and things will even out in the long run. Fortunately for Hyundai and Kia, most of the their vehicles sold in North America are made there and not imported from Korea. If they thought that the currency changes were permanent, they probably would have to make adjustments in the prices of imported cars. The German automakers have been in the same boat for cars sold in the USA, as the USD has gone through dramatic gyrations up and down over the last 5 years versus the Euro.

 

[g70]

I am not exactly sure what the thought process is by the automakers, but if you look at the gyrations of the CAD vs the Korean Won the last 5 yeas (the CAD has lost a lot value, I assume because the crash in oil and gas prices), and compare that to the relatively steady price of a Hyundai Genesis or G80 in Canada over those same years, you can see what I am talking about.

In many cases they probably think that the currency changes will eventually reverse, and things will even out in the long run. Fortunately for Hyundai and Kia, most of the their vehicles sold in North America are made there and not imported from Korea. If they thought that the currency changes were permanent, they probably would have to make adjustments in the prices of imported cars. The German automakers have been in the same boat for cars sold in the USA, as the USD has gone through dramatic gyrations up and down over the last 5 years versus the Euro.

Companies usually manage currency fluctuations using forward exchange contracts. This does not eliminate the effect of fluctuations completely, but enables them to manage the risk of large swings. Effectively they know in advance what rate they are going to get.

 

[Tourenwagen]

G70 pricing to be unveiled sometime this week. I will keep you all posted.

US pricing too or just Canadian?

 

[GV70GUY]

Canadian

 

[GenesisYEG]

RE: Pricing. If you have pre-ordered from me or are interested in pre-ordering a G70, message me!

 

[g70]

Pricing is confirmed but I cannot unveil it publicly yet. If you have pre-ordered from me or are interested in pre-ordering a G70, message me!

Thanks- will email my rep I have my order with!

 

[GenesisYEG]

Thanks- will email my rep I have my order with!

 

[GenesisYEG]

RE: Pricing. If you have pre-ordered from me or are interested in pre-ordering a G70, message me!

Thanks- will email my rep I have my order with!

Message me