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  • Drew Dowdell
    Drew Dowdell

    By Drew Dowdell •

    Hyundai Santa Fe Price Jumps as it Grows Up

      Some 2024 Hyundai Santa Fe trims jump more than $5,000 over the 2023 model.

    Just last week, we reported that the all-new 2024 Chevrolet Traverse will see a large price jump. In what is looking to be an industry trend, Hyundai just reported significant price increases for its large mid-size 2024 Hyundai Santa Fe.

    2024 Hyundai Santa Fe dashboardThe new 2024 Santa Fe base price starts at $33,950 plus a destination charge of $1,395, bringing the out-the-door MSRP to $35,345. That is $5,260 more expensive than a 2023 Santa Fe SE at $28,750 plus $1,335 destination. The middle-of-the-road "rugged" trim XRT sees the largest jump in price, climbing $6,350 from $34,250 to $40,600 before destination charges. Buyers of the base hybrid trim see the least of the increase, only $2,540 from the 2023 Hyundai Santa Fe Blue trim to the 2024 Hyundai Santa Fe Hybrid SEL AWD trim.  New for 2024 is the availability of the hybrid in front-wheel drive which brings the hybrid cost back down to around the 2023 AWD Hybrid base price.

    That said, these price increases aren't without merit.  The 2024 Hyundai Santa Fe has increased significantly in size, adding a third row. The base, naturally aspirated 4-cylinder has been dropped and all non-hybrid models now have the 277-horsepower 2.5-liter direct-injected 4-cylinder turbo as standard.  Hybrids are powered by a 1.6-liter turbo with 231-horsepower combined system output.  Gasoline models come with an 8-speed automatic while hybrids get a 6-speed unit. All trims, except the all-wheel drive only XRT, are available in front-wheel or all-wheel drive. The plug-in is absent for now, but mules have been spotted, so it could be coming.

     

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    trinacriabob

    Very interesting.

    For such a significant price increase, it had better deliver.

    I see a lot of things going on.  The bigger, boxier look reminds me of the Ford Flex.  The front grille, straight on, looks Chevy/GM or Ford.  The super rectangular pods on the dash, air vents, etc. go with the new look, and that overall shape when it comes to front (bucket) seats is very much to my liking.

    I wonder why the engines dictate 2 separate transmission offerings.  Maybe they figured there wasn't much to gain from 2 extra gears in the hybrid.

    Most of all, it will be interesting to see if the price hike will crimp sales or it will be a moot issue.

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    G. David Felt
    8 minutes ago, trinacriabob said:

    Very interesting.

    For such a significant price increase, it had better deliver.

    I see a lot of things going on.  The bigger, boxier look reminds me of the Ford Flex.  The front grille, straight on, looks Chevy/GM or Ford.  The super rectangular pods on the dash, air vents, etc. go with the new look, and that overall shape when it comes to front (bucket) seats is very much to my liking.

    I wonder why the engines dictate 2 separate transmission offerings.  Maybe they figured there wasn't much to gain from 2 extra gears in the hybrid.

    Most of all, it will be interesting to see if the price hike will crimp sales or it will be a moot issue.

    I have seen in the purchasing management area that many talk about having to lock in contracts and as such, while many even GM in their Q4 presentation today stated that the normalization of production plants makes them see having to reduce prices this year to continue sales. So big rebates????

    The price increase is taking into account the long-term contracts they signed to build the auto based on quoting of prices at that time and with most of this being negotiable during last summer, I suspect these prices have that inflation built in and will have to be adjusted as things cool off later this year.

    The U.S. economy is very robust ignoring the liars that say it is not as it is better now than the past president's economy.

    Yet with that said, either salary will have to go up or companies are going to have to reduce prices as costs go down to keep sales going as I see buyer fatigue as a major issue with buying major purchases.

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    smk4565

    I think it looks good, and much better than the last one, so credit to the design team.  A $5,000 jump is a lot, but starting at $33k and topping out around $50k isn't too bad considering you can spend $35-40k pretty easily on a smaller size class CRV or Ford Escape.  

    They had to get some separation from the Tucson, so if this drives well and is built well, and isn't just good looks, this could be well worth the price.  The only downside is it is another example of every car is going up market and getting expensive, at some point they will price so many people out.

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    G. David Felt
    1 hour ago, smk4565 said:

    I think it looks good, and much better than the last one, so credit to the design team.  A $5,000 jump is a lot, but starting at $33k and topping out around $50k isn't too bad considering you can spend $35-40k pretty easily on a smaller size class CRV or Ford Escape.  

    They had to get some separation from the Tucson, so if this drives well and is built well, and isn't just good looks, this could be well worth the price.  The only downside is it is another example of every car is going up market and getting expensive, at some point they will price so many people out.

    A big chunk of folks are already priced out as the average income required to buy a new auto is now @ $94,282

    This Is the Salary You Need To Afford a New Car in Your State | GOBankingRates

    You can see the specific wage for your state, but your state is over $95K and almost $97K in my state.

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    smk4565
    22 hours ago, David said:

    A big chunk of folks are already priced out as the average income required to buy a new auto is now @ $94,282

    This Is the Salary You Need To Afford a New Car in Your State | GOBankingRates

    You can see the specific wage for your state, but your state is over $95K and almost $97K in my state.

    Yeah that is kind of nuts that you need to make $100k a year to afford a new car.

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