£200 hike comes into force; further price rises may happen
25 August 2009

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.

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Comments
6

25 August 2009

that doesnt make sense for UK sales, it really means they have made an extra 15% profit not loss if the £ to rupee level has changed in the £ favour, they should be reducing the price of the cars by hundreds of pounds in the UK.

25 August 2009

[quote Autocar]Hyundai has increased the price of its i10 by £200 and i20 by £300 due to the weakness of the Indian rupee against the British pound.[/quote]

I don't get it. A weakening Rupee implies that 1 British Pound is equivalent to more Rupees than it used to be. If anything, the cars should be cheaper now as it takes less Pounds to get the required amount in Rupees.

25 August 2009

[quote etaricone]I don't get it. A weakening Rupee implies that 1 British Pound is equivalent to more Rupees than it used to be. If anything, the cars should be cheaper now as it takes less Pounds to get the required amount in Rupees.[/quote]

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.

26 August 2009

they need banning fro,m the uk. now.

17 September 2009

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.

17 September 2009

[quote beachland2]

they need banning fro,m the uk. now.

[/quote]

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.

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