More vehicle, less money

The most important pillar of Hyundai's strategy is to pack more content, features, improved styling and equipment into each new version of its vehicles, without jacking up prices. With the recent launch of the 2013 Santa Fe, a totally redesigned SUV, I wondered if Hyundai had stuck to its traditional focus on value. Or had this increasingly successful brand abandoned its roots with the latest Santa Fe?

The 2013 Santa Fe is essentially the third generation of this popular vehicle, although made minor tweaks annually to the vehicle. Ten years ago, you could own a 2003 Santa Fe, with all-wheel drive and all the key options, for $27,095. Compare that price to $28,350 for the 2006 Santa Fe, $30,095 in 2007, $30,745 for the 2009, and $30,999 in 2012. For a similarly equipped Santa Fe in 2013, the price is $30,499. On the face of it, these generational price increases look fairly minor when considering all of the equipment now standard on the 2013 version, including seven airbags, heated seats, Bluetooth, satellite radio, a six-speed transmission, 17-inch alloy wheels and dozens more. In 2003, most of this technology was still on the drawing board or exclusive to expensive luxury vehicles.

What is more interesting and revealing is to examine these figures after adjusting them for inflation. In other words, what would a 2003 Hyundai Santa Fe cost in today's dollars? The answer is startling. Today, a 2003 Santa Fe would demand $32,200 -- or $1,700 more than a 2013 Santa Fe Premium AWD at $30,499. Despite infinitely more equipment on the all-new Santa Fe, today's pricing is actually better than a decade ago. 

This quick comparison seems to show that Hyundai, despite its rapid growth, is sticking to its knitting and a key competitive edge -- by stretching a customer's dollar further than any other auto maker.