[Exclusive] Hyundai Motor and Kia Increase New Car Delivery Fee by 10%... '↑' After 5 Months
Hyundai Motor and Kia Raise New Car Delivery Fees by Another 10% Following February Increase
"Unavoidable Due to Soaring Labor and Fuel Costs"
[Asia Economy Reporter Choi Dae-yeol] The delivery fee for new cars from Hyundai Motor Company and Kia has increased by about 10%. After raising the fee in February this year, they have increased it once more within five months, causing new car buyers to bear an additional cost of several tens of thousands of won compared to early this year.
According to the industry on the 6th, Hyundai Motor Company and Kia raised the delivery fee by an average of about 9.6% across all sections starting from vehicles shipped on the 4th of this month. They informed each branch, dealership, and customer of this fact at the end of last month. The company explained that the increase was due to the sharp rise in international oil prices.
It is uncommon to adjust prices twice within less than half a year. Hyundai Motor Company and Kia had previously raised the delivery fee by about 8.9% on average in February this year, after about two years since the last increase at the end of 2019. Since fuel costs inevitably make up a large portion of the delivery fee, the recent steep rise was reflected in the adjustment.
The new car delivery fee varies depending on the distance from the shipping location to the receiving location and the vehicle type. For example, for a Hyundai mid-size sedan Sonata shipped from the Asan Center and received in Seoul, the fee was previously 146,000 won but has now increased by 9,000 won to 155,000 won. The Genesis Sports Utility Vehicle (SUV) GV80 has increased by about 31,000 won compared to before.
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The company has set the price using a fuel price linkage system starting this month, allowing the delivery fee to be adjusted immediately in line with changes in fuel prices. Accordingly, if the fuel price rises or falls by 10% compared to the previously applied price, the delivery fee is automatically adjusted to reflect this change. A company official said, "In the past, when fuel prices fell, the delivery fee was also lowered."
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