Hyundai Motor America has set the price of its Hyundai Azera, known as the Grandeur HG in Korea, at US$32,000, a spokesman for the carmaker said on Wednesday.
This means the model, which officially goes on sale in the U.S. in April, is 25 percent higher than its predecessor, the Grandeur TG, which is now being sold in the U.S. market.
However, the Azera will still be cheaper than the version available in Korea, where it sells for W44.5 million (US$1=W1,121).
"The price of the vehicle will go up by an extra $5,000 in the American market, if the costs of transportation and options, such as its 19-inch alloy wheels and panoramic sunroof, are included," said the spokesman. "Exchange rate fluctuations also account for some of the price difference."
There is believed to be an element of rising pride at play behind the automaker's price hike in the U.S., after seeing its Genesis and Equus enjoy huge levels of popularity there. The automaker exceeded its sales target for Equus in the U.S. last year by offloading more than 3,000 units to consumers.
The new Grandeur will be competing with other large foreign sedans including Buick's LaCrosse, the Ford Taurus, Toyota's Avalon and the Nissan Maxima.