What are the price point of the Inster and does it impact its market position and target audience?
Hyundai Inster pricing strategy is very important to decide the market position and target market. The Inster is a compact electric vehicle with unique design features and it has to compete both on innovation and price. It will be determined whether it’s an entry level EV option or a premium small car option based on the price point. It brings up questions like what potential consumers should look for in terms of value (and how its features differ from those of comparable, electric and conventional, competitors in the small car segment); how much of the car’s price is driven by government incentives on EVs; and how the car compares to its electric and conventional competitors in small car segment (especially for those that do not qualify for such incentives). There is also a debate over whether the Inster's pricing strategy will allow it to grab a significant market share in different regions, as well as in markets where small EVs are just beginning to take shape.
It could be the perfect 'first EV' for a lot of people, if they price it right. To really make an impact, it needs to undercut the Mini Electric.
They can’t go too high, because it will push buyers towards more established brands, but the unique features might justify a slightly higher price.
I think it'll be overpriced like the Honda E, cool design isn't enough if the price isn't somewhere competitive.
It’s a city car, so the price has to reflect it. It will be hard sell if it is too close to larger EVs like the Kona Electric.
If they want people to get into EVs, they should offer a bare-bones version at rock bottom price and upsell from there.
Probably, the target audience is a young, urban professional. But they might be willing to pay a premium for the quirky design and the tech.
It all depends on the battery. It could be a game changer in the small EV market if they can give up decent range at a reasonable price.
I hope they don't price it based on 'novelty factor' either. It doesn’t work long term very often.
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