Is the Equus the equal of the BMW 7 Series? That all depends on how much it costs.
If you’re in the market for a luxury car, you could save a chunk of change by forgoing a BMW in favor of a Hyundai Equus, which offers similar space and luxury without the badge. At $59,250, the Equus is a good $14k cheaper than the $73,600 BMW 7 Series. But that’s in America. In Korea, it's a different story. While Hyundai previously enjoyed significant advantages on its home turf due to tariffs imposed by the South Korean government, a reduction in those import taxes leaves the Equus actually costing more than the German imports.
The starting price for a new 7 Series in South Korea, according to market research from Bloomberg, is 124 million won – or about $111,000. The Equus, meanwhile, starts at 151 million won ($136k), for a $25,000 difference in BMW’s favor. Price comparissons like this help explain why Korean buyers are abandoning upscale domestic automobiles in favor of more cost-effective imports. Hyundai may need to start slashing prices on its top-of-the-line models in order to compete. But even if it chopped $25k off a new Equus, it would still only match the 7 Series, and for the same price, we’d be inclined to go with the Bimmer.