Hyundai is lagging behind other automobile companies in electric vehicle segment but the company is already offering value for money in hybrid car segment. As per the latest price check, Hyundai’s 2018 Sonata Hybrid is one of the most affordable midsized hybrids currently available in the market; thanks to a $500 price cut announced by the automaker for the vehicle.

According to the analysis by CarsDirect.com, the $500 price-cut on Hyundai’s 2018 Sonata Hybrid makes it the third most affordable midsized hybrid on the market, behind Ford’s Fusion Hybrid and Honda’s Accord Hybrid which have a lower price tag.

The $500 price-cut by Hyundai on the 2018 Sonata Hybrid underscores an evident effort by the automaker to increase the sales of the vehicle. With the $500 price-cut now in effect, the cost of the 2018 Sonata Hybrid SE-- the base model of the refreshed Sonata lineup for the year -- has now come down to $26,385; thereby lowering the MRSP of the vehicle by $50 as compared to the 2017 model.

The cost of the Sonata Hybrid Limited Edition has dropped by $400; while the cost of the Hybrid Limited Ultimate in total has dropped by $1,050, due to another $650 reduction in the cost of the Hybrid Limited Ultimate Package.

Overall, with Hyundai still having lots of 2017 Sonata Hybrids, which are available with a $3,500 cash incentive from the automaker, the drop in MSRP for 2018 Sonata Hybrid is evidently an encouraging trend, especially for consumers interested in purchasing a hybrid vehicle.