The 2024 Hyundai Kona Electric has undergone a comprehensive redesign, showcasing enhancements both in its size and features. Remarkably, the starting price for the base model has decreased by approximately $900 compared to its predecessor, offering a refreshing deviation from the prevailing trend of escalating car prices.
In its revamped form for 2024, the entry-level SE trim of the Kona Electric now begins at $34,010, representing a reduction of $875 from the 2023 model, which commenced at $34,885. The latest generation maintains its lineup with the mid-tier SEL and top-tier Limited, starting at $38,010 and $42,380, respectively. This translates to a $625 decrease for the former and a $505 discount for the latter.
It’s noteworthy that Hyundai has opted for a pricing strategy that bucks the common trend of increasing car prices, especially considering the prevailing economic climate. The decision to lower prices may be linked to the fact that the subcompact SUV is presently ineligible for the $7500 federal tax credit. This exclusion is attributed to its non-U.S. production, exempting it from the provisions of the Inflation Reduction Act.
While we attempted to seek clarification from a Hyundai spokesperson regarding the reasoning behind the price adjustment, we have yet to receive a response. Notably, individuals considering leasing a Kona Electric may still benefit from the tax credit.
Under the hood, every 2024 Hyundai Kona Electric is equipped with a single front-mounted electric motor. The base SE model boasts 133 horsepower and a 48.6-kWh battery pack. In contrast, the SEL and Limited variants offer 201 horsepower along with a larger 64.8-kWh battery, providing an estimated range of up to 261 miles according to EPA calculations. Hyundai asserts that a DC fast-charge connection can recharge either battery from 10 to 80 percent in approximately 43 minutes.