Hyundai Canada Gives $1000 To Buyers Of Fuel-Efficient Hyundais

by alia_d | August 19, 2009 at 10:35 am

330 views | 2 Recommendations | 1 comment

Hyundai Canada will offer between $500 to $1000 to customers who buy new, fuel-efficient Hyundais. Hyundai Canada hopes that it's $1000 incentive combined with the Canadian Government's Retire Your Ride Program will encourage customers to give up older, more polluting cars.

Hyundai said Wednesday it will offer people who buy one of its new models between $500 and $1,000 in savings depending on the vehicle. Ottawa's Retire Your Ride program offers $300 in cash or other incentives to people who scrap vehicles built in 1995 or earlier.

However, the incentives offered by Hyundai Canada and the Canadian government are tiny compared to the incentive offered by the US Government's "cash for clunkers" program, which gives customers $4,500 for buying new, more fuel-efficient cars.

Critics say that Hyundai Canada's offer is too small to have a meaningful impact in the long-term, although it may urge people who already plan to buy a car to do so more quickly.

Hyundai Canada is doing well despite the recession.

While many automakers suffered double-digit sales drops in Canada this year, Hyundai has bucked the trend, posting a 24% sales gain.

[...]

Canadians have been attracted to the vehicle's transaction price of $15,000 to $17,999 as the recession drags on.