Hyundai America Adjusts Interest Rates on Electrified Models Amid Rising Gas Prices
Gas prices are still high despite the ceasefire between the United States and Iran, causing uncertainty in oil prices. Car owners worldwide are feeling the pinch at the pump and are increasingly turning to hybrid and electric vehicles. Hyundai America has responded to this trend by raising interest rates on its electrified models. The Ioniq 5 EV, in particular, has seen discounts drop by up to 40% in some regions. On average, Hyundai's entire electrified lineup has seen a 1% increase in interest rates. Gas models, on the other hand, have maintained their interest rates, with some even offering 0% APR deals. Despite the rate hike, Hyundai remains competitive compared to other brands in the market.