MUNICH — Hyundai Motor‘s European chief Michael Cole said the automaker was not making a direct change to its pricing in response to Tesla’s price cuts, adding consumers needed reassurance that prices would not go up and down.
“We are not taking what I would call a knee-jerk reaction to what the competition does… we know that Tesla’s pricing will alert some consumers to consider Tesla that had not before, so of course you have to look at that,” Cole said at the Reuters Automotive Conference in Munich.
“We have to be confident in our pricing strategy,” he added.
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