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Hyundai to Offer Ioniq for Sale on ‘Cell Phone Data Plan’ Model

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2017 Hyundai IONIQ Hybrid

2017 Hyundai IONIQ EV

When it hits dealers, the 2017 Hyundai Ioniq will be the first vehicle to not only be offered in hybrid, plug-in hybrid, and fully-electric powertrains, but it will also be the first to offer a new manner of purchasing a car—paying a subscription fee each month.

Called “Ioniq Unlimited,” this alternative to buying or leasing would roll all the ownership costs into one monthly payment, in a manner inspired by cell-phone data plans, by bundling together both service-related costs and the cost of the product over the length of the term of ownership.

The plan is to allow shoppers to select their Ioniq from dealer inventory online, choose a 24- or 36-month subscription term, receive a quote for a monthly payment, and take that in to the dealer to complete the sale. Hyundai promises that this would include no haggling over price, and customers can simply “sign a few forms and drive away.”

Not surprisingly, this plan is meant to target Millennials, who have been viewed as uninterested in cars, but that Hyundai believes will be the largest car-buying group of 2017. The brand also notes that Millennials are twice as likely to consider alternative-propulsion vehicles compared to previous generations.

This subscription model will only be available at a few dealerships in California initially early next year, but is expected to spread later.

The electric and conventional hybrid versions of the Ioniq are promised to go on sale before the end of the year, with the plug-in hybrid to follow next year.

News Source: Green Car Reports