Hyundai to offer Ioniq with 'Unlimited' subscription rate
The 2017 Hyundai Ioniq will be offered with a subscription rate combining many ownership costs in an all-inclusive monthly payment. The Ioniq Unlimited scheme will include charging fees, unlimited mileage and scheduled maintenance, as well as replacement costs for "wear items". It will only be available in parts of California and is based on mobile phone data plans. The Ioniq will also be the first model sold with options for electric, hybrid and plug-in hybrid powertrains, with the Ioniq Electric and Ioniq Hybrid expected to go on sale by the end of 2016.

The 2017 Hyundai Ioniq will be the first model sold with options for hybrid, plug-in hybrid, and battery-electric powertrains.

In addition to this unique combination of powertrain options, Hyundai plans to offer a novel alternative to the traditional purchase or lease models on the battery-electric Ioniq.

Announced last week at the 2016 Los Angeles Auto Show, the "Ioniq Unlimited" scheme is a subscription-based model that folds many ownership costs into a single monthly payment.

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That fixed amount includes unlimited mileage, charging costs, scheduled maintenance, and replacement costs for "wear items."

Ioniq Unlimited shoppers will select cars from dealer inventory online, and then choose either a 24- or 36-month subscription term.

They will then receive a quote for an all-inclusive monthly payment, which they can take to the dealer to complete the transaction.

2017 Hyundai Ioniq (European spec), 2016 Geneva Motor Show

Hyundai promises "no haggling," saying that customers will "just sign a few forms and drive away."

Unlike the online sales of electric-car maker Tesla Motors, however, the final transaction must still be completed with the franchised dealer and at the dealership.

The program—which will only be available in certain parts of California—is modeled on cell-phone data plans, said Hyundai Motor America CEO Dave Zuchowski in a recent interview with Wards Auto.

ALSO SEE: 2017 Hyundai Ioniq preview

Like data plans, it bundles the cost of a product (in this case the Ioniq Electric) with service-related costs over the term of ownership.

Ioniq Unlimited will target Millennials, the group that Hyundai expects to be the number-one purchasers of vehicles in 2017, Zuchowski said.

Many analysts view Millennials as uninterested in cars, but Hyundai views Ioniq Unlimited as a "little experiment" that could lead to a retail experience they find more attractive, Zuchowski said.

2017 Hyundai Ioniq (European spec), 2016 Geneva Motor Show

He also noted that Millennials are twice as likely to consider alternative-propulsion vehicles as previous generations.

Hyundai has not released pricing for Ioniq Unlimited plans, but Zuchowski said they would be "market competitive" with leases offered by other automakers.

MORE: 2017 Hyundai Ioniq product team discusses U.S. hybrid, electric markets

Ioniq Unlimited will be available in Los Angeles early next year, and will expand to other parts of California later in the year.

Hyundai says the Ioniq Electric and Ioniq Hybrid models will go on sale before the end of this year, while the plug-in hybrid will follow in 2017.

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