Currency fluctuations since Brexit have prompted several car makers to raise prices by up to 2.5%; Hyundai won't follow suit
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.

Our Verdict

Vauxhall Corsa cornering

All-new Vauxhall Corsa raises its game with the end result being a classy supermini that’s decent to drive, but still short of the benchmark set by the Ford Fiesta

Join the debate

Comments
35

29 September 2016
Again, utter Brexit rubbish. We haven't even started the process of Brexit so how on earth Brexit can be held responsible?

Foreign currency markets fluctuate each and every day. If anyone's to blame it's the speculators, not Brexit. When the pound was at it's strongest, does anyone remember Vauxhall reducing their prices by 2.5%? Nope didn't think so.

You must have a brain the size of a pea if you believe Vauxhall's excuse for a price increase. Then again, you'd have to have a brain the size of a pea to buy a new Vauxhall.

289

30 September 2016
...spot on Scotty!

6 October 2016
fluctuation - "an irregular rising and falling in number or amount".

Since referendum day the pound is down 13.6% against the euro, and 15.4% against the dollar - no rising, just falling.

Assume you believed Harold Wilson as well when he gave his assurance regarding "the pound in your pocket"

7 October 2016
scotty5 wrote:

Again, utter Brexit rubbish. We haven't even started the process of Brexit so how on earth Brexit can be held responsible?

Foreign currency markets fluctuate each and every day. If anyone's to blame it's the speculators, not Brexit. When the pound was at it's strongest, does anyone remember Vauxhall reducing their prices by 2.5%? Nope didn't think so.

You must have a brain the size of a pea if you believe Vauxhall's excuse for a price increase. Then again, you'd have to have a brain the size of a pea to buy a new Vauxhall.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
"Nothing to do with self combustung cars?

.5 October 2016

Maybe it's something to do with their self combusting cars. Brexit is just an excuse for a price increase. Most Vauxhall buyers don't have a clue about cars anyway (who'd buy a Vauxhall if you even vaguely liked cars?), so the company are betting that they won't quibble about paying more for their dull rental cars. I guess the company will have to rely on Avis buying their tedious cars"
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

But then who would buy a VW? Cheats and unreliable and recalls. Mmmm.

wwwDOTvwproblemsDOTcom - check it out. It's not all good news for the VW Group 'sheep' either

8 October 2016
Well the value of the £ against the € have fallen, so things imported from other countries will be more expensive than before Brexit.
Erik, Denmark

8 November 2016
scotty5 wrote:

Again, utter Brexit rubbish. We haven't even started the process of Brexit so how on earth Brexit can be held responsible?

Foreign currency markets fluctuate each and every day. If anyone's to blame it's the speculators, not Brexit. When the pound was at it's strongest, does anyone remember Vauxhall reducing their prices by 2.5%? Nope didn't think so.

You must have a brain the size of a pea if you believe Vauxhall's excuse for a price increase. Then again, you'd have to have a brain the size of a pea to buy a new Vauxhall.

You are talking rubbish. I work in the automotive industry, and prices are going up because of the fall in sterling. The *vote* for Brexit caused this.

Car makers do NOT increase prices unnecessarily, much as we would like to blame them. It causes them loss of market share (think of the BIK increases for company car tax for example) so I promise you they do not take these decisions lightly.

13 November 2016
renster wrote:
scotty5 wrote:

Again, utter Brexit rubbish. We haven't even started the process of Brexit so how on earth Brexit can be held responsible?

Foreign currency markets fluctuate each and every day. If anyone's to blame it's the speculators, not Brexit. When the pound was at it's strongest, does anyone remember Vauxhall reducing their prices by 2.5%? Nope didn't think so.

You must have a brain the size of a pea if you believe Vauxhall's excuse for a price increase. Then again, you'd have to have a brain the size of a pea to buy a new Vauxhall.

You are talking rubbish. I work in the automotive industry, and prices are going up because of the fall in sterling. The *vote* for Brexit caused this.

Car makers do NOT increase prices unnecessarily, much as we would like to blame them. It causes them loss of market share (think of the BIK increases for company car tax for example) so I promise you they do not take these decisions lightly.

For somebody who is fond of calling rubbish on the posts of others, you spout a constant stream of shite yourself. You clearly know significantly less than you delude yourself that you know.

I don't need to put my name here, it's on the left

 

30 September 2016
"General Motors Europe has suffered as the value of the pound slipped against the euro, with the UK being its largest national market." - Firstly, the £ was about the same for much of 2013 and weaker from 2009-2011, so this isn't exactly new territory. Secondly, if the UK is GME's largest market then GM is surely partly responsible through its choice of production locations and their associated currency risk.

30 September 2016
Like the way the price rise is to do with Brexit but the sales increase isn’t. Talk about blaming Brexit for the bad news but not praising it for the good news. You can’t have it both ways!

 

Hydrogen cars just went POP

30 September 2016
Then, unless they're underpriced at the moment, let them be uncompetitive against and lose sales to their many impressive rivals. It's a choice.

Pages

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Alfa Romeo Stelvio
    The new Alfa Romeo Stelvio. We've tested it on UK roads for the first time
    First Drive
    18 August 2017
    First tilt on UK roads reveals a chassis almost as absorbing as the Giulia’s, though the Stelvio’s comfort and quality levels may disappoint SUV clientele
  • Car review
    18 August 2017
    Amid a broader vRS refresh, Skoda has built its most powerful Octavia yet to take on the established order
  • Jaguar F-Type Convertible 2.0 i4 on the road
    First Drive
    16 August 2017
    Having been previously impressed by the agile four-cylinder F-Type, now is our chance to try it in the UK and in open-top form. But can this entry-level Jaguar sports car hold off the impressive Porsche Boxster?
  • Aston Martin V8 Vantage AMR
    The Aston Martin V8 Vantage AMR is a swansong for the Vantage - but the first model to sport the AMR title
    First Drive
    16 August 2017
    Aston Martin's swansong for its venerable Vantage sports car allows it to bow out with its head held high, yet the performance AMR sub-brand's first outing leaves you feeling short-changed
  • Range Rover Velar 2.0D
    First Drive
    15 August 2017
    Can the newest Range Rover deliver the goods when it's being powered by a four-cylinder, 2.0L diesel engine? We tried it on UK roads to find out