That didn't take long.
There's no question the Hyundai Palisade and Kia Telluride are now two of the most desirable three-row crossovers on the market. Both are all-new for the 2020 model year and alternatives such as the Chevrolet Traverse will soon offer mid-life facelifts in order to remain competitive. Anyone in the market for either of these stellar SUVs should thus take note of this newly discovered piece of information by Cars Direct.
A recent pricing guide has revealed sticker prices for both vehicles have just increased. Beginning earlier this month, the Hyundai Palisade SE price increased from $32,645 to $32,895, or $250. More specifically, this represents a $225 increase in MSRP and a $25 destination charge price hike. Furthermore, every Palisade trim is also subject to this increase, meaning the top of the line Limited equipped with all-wheel drive now starts at $47,745.
The Palisade was previously slightly less expensive than its Telluride corporate cousin, but the latter's price has also changed. Kia increased the base trim Telluride LX price by $275, now at $33,060, thus making the Telluride $165 more than the cheapest Palisade. Why are these prices happening so soon after both crossovers hit the market? It's hard to pinpoint an exact answer, though we know both are in high demand.
Also, price increases, even during the model year, are not entirely unusual. Unfortunately, neither Hyundai nor Kia are offering any substantive rebates for these vehicles at present.
There is, however, a $500 bonus on the Palisade for customers coming from a competing brand. It's also important to note that despite these slight price boosts, there are no packaging changes, though this could change for the 2021 model year. It appears strong demand may be the most logical reason why Hyundai and Kia increased these prices. But it's not by any means the end of the world.