South Korea ’ s largest automotive group Hyundai - Kia Automotive Group sharply raised prices of new models launched in the US this month . The price hike is seen as an attempt to face head - on challenges posed by the stronger Korean won , which undermine the group ’ s profitability . Kia Motors unveiled and began to sell the new 2014 Sorento model in the US , said Hyundai Motor Group Monday . The previous Sorento models were sold in the price range between $ 23 , 150 and $ 33 , 400 in the US , but the new model ’ s price jumped to the range between $ 24 , 100 and $ 39 , 700 . Hyundai Motor also raised the price of the 2013 Sonata Hybrid newly released in the US by up to $ 4 , 700 . The prior 2012 Sonata Hybrid , which had been sold until last year , had a single model priced at $ 25 , 850 . But the carmaker introduced the new 2013 Sonata Hybrid model with two trim levels , including a model with basic trim priced at $ 25 , 650 and the Sonata Limited Hybrid priced at $ 30 , 550 . The price for a model with the basic trim level is $ 200 lower than its predecessor , but the price of the best high - end model jumped $ 4 , 700 from that of the previous model . “ We need to counter the stronger won in any way possible , since the won ’ s appreciation is significantly affecting our earnings , ” said a high - ranking official at Hyundai Motor . “ This price hike mainly aims to enhance brand recognition by charging appropriate prices and boost profitability . ” [ Written by Ki - hyun Nahm - Sun - ah Kim / edited by Soyoung Chung ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]