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Hyundai cancels Ioniq 3 launch in Australia
Original: Hyundai scraps Ioniq 3 Australia launch as small EV price war bites
Hyundai has abandoned plans to launch its Ioniq 3 electric car in Australia, pulling the small EV from the local market. The decision comes as a price war among compact electric vehicles intensifies, making it harder for models in this segment to compete on cost. It signals growing pressure on carmakers as cheaper rivals squeeze margins in the small EV category.
Why now: Intense price competition among small electric vehicles has made Hyundai's planned entry into the Australian market unviable.
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