Currently reading: Hyundai maintains its pricing post-Brexit vote
Currency fluctuations since Brexit have prompted several car makers to raise prices by up to 2.5%; Hyundai won't follow suit
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2 mins read
8 November 2016

Hyundai has chosen to keep its UK pricing the same since the UK's vote to leave the European Union.

Other manufacturers, including Ford, Honda and Suzuki, joined the list of car makers increasing UK pricing on their models as a result of Brexit, after the vote caused fluctuations in the pound. 

However, Hyundai has opted to keep its prices fixed in an attempt to get the edge over the competition, according to UK CEO Tony Whitehorn. 

"It is a strategic move for us, the strategic move being that we want to try and make our cars accessible; that's key for us," Whitehorn said. "This year, we will not raise our prices; but that's not saying that we will not raise our prices in the future, and that has been the strategy that we have taken here in the UK."

Ford has announced that prices will increase by 1.5% across its range, while Honda will be increasing the prices of its cars by an average of 0.9% this month. Some Suzuki models will also be subject to price increases, with a 2% increase blamed on the fluctuation of sterling. 

The PSA Group, which is made up of Peugeot, Citroën and DS, raised its prices by 2% after the UK's vote to leave the European Union. 

Vauxhall is set to increase prices of most models in the UK by 2.5% on the 1 October, matching an increase made in the aftermath of Brexit.

General Motors Europe has suffered as the value of the pound slipped against the euro, with the UK being its largest national market. Tina Müller, Opel’s chief marketing officer, said Brexit has in effect cost the company £346 million already.

“It will be the trend across the industry,” Müller told journalists at the Paris motor show. “I think we are leading here but we know that everybody else will follow.”

Despite GME’s predictions for a decline in the British market, sales remain strong at the moment.

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Ski Kid 8 November 2016

They did not reduce prices when the £ went up from just over 1

When the pound was nearly 1 to 1 euro in 2008 it rose to nearly 1.5 euros to the pound last year,they did not reduce the prixces so they had it good mega style for 7 years,so they should not now increase ,full stop.
LP in Brighton 8 November 2016

Truth is Hyundai can't afford to increase prices

Even at current prices the company is having to discount aggressively and pre-register lots of cars. So any price rise would drastically affect sales. Bottom line is that any car is only worth what customers will pay - and Hyundai is not yet a manufacturer that can charge premium prices.
rickerby 11 October 2016

Brain the size of a pea? Well

Brain the size of a pea? Well where does that leave you if your unable to equate a collapse in Stirling to an increase in import costs for cars made in the Eurozone? Idiot

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