Hyundai has increased the price of its i10 by £200 and i20 by £300 due to the weakness of the British pound against the Indian rupee.
Since February, the pound has decreased by around 15 per cent compared with the rupee. Hyundai says it had reached the stage where the Indian-built i10 and i20 cars sold in the UK were not making any profit.
A Hyundai source said, “We got to the stage where we were losing money on every i10 and i20 sold. These cars could be sold at a profit in France or Germany, so we had to increase the price or risk losing future stock."
Profit margins on the i10 and i20 have been especially tight since the introduction of the scrappage scheme. With the £2000 scrappage reduction taken off, an i10 can be bought for £5300 and an i20 for £6550.
The source didn’t rule out a further price increase in the future.
“If the currency fluctuations continue, then we may have to put up prices again,” they said.
“But whereas other manufacturers have put the prices up across their entire ranges, we have only put our prices up on the Indian-built models.”
Hyundai has promised to honour the original price of all i10 and i20 models ordered before 10 August, the date when it informed dealers of the price increases. Only models ordered after this date will incur the price rise.
Twitter - follow autocar.co.ukSee all the latest Hyundai i10 reviews, news and video
Join the debate
Add your comment
Re: Hyundai increases i10 price
You mean the politicians right?
Also all the manufacturers are at it, you can pay over £10k list now for a 107 with AC, airbags and ESP if you are stupid enough.
Re: Hyundai increases i10 price
The price increase is actually £600, not the £300 quoted. At the start of the scrappage scheme Hyundai won lots of attention with the base model 1.2 3-door classic priced at £5995. That car is now £6595 (albeit labelled 2010 model and with ESP added as standard).
The i20 is a good car for the money, but it's pricing is no longer so far away from its competitors, and it isn't a bargain buy. Good value yes, but not a bargain. My favoured version, the 1.2 Comfort 5-door with metallic paint and sunroof come in at £8365 after scrappage allowance.
Re: Hyundai increases i10 price
Er i dont for one minute believe this story, they are putting up the price because they can still sell more while the scrappage scheme is on and make more dosh because a weaker rupee makes these cars cheaper buy a few hundred pounds add the upped price by £200/£300 then they have coverd there part of the scrappage scheme nearly and Hyundai have addmited them selves that 90% of there sales under scrappage just happen to be i10 and i20s. simplz.