Hyundai increases the price of its i10
By Andrew C., 30 Aug, 2010. 0 Comments
Hyundai Logo
Due to the weakness of the Indian rupee against the British pound, the prices of Hyundai's i10 and i20 have increased by £200 and £300, respectively. However, Hyundai will honor the original price of models ordered before August 10, the date that it informed dealers of the price changes. Since February, the rupee has decreased by around 15% compared to the pound. 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 it got to a point where it was losing money on every i10 and i20 sold. Since these cars could be sold at a profit in France or Germany, it had to increase the price or risk losing future stock.
Profit margins on the i10 and i20 have been tight since the introduction of the scrappage scheme. With the £2,000 scrappage reduction taken off, an i10 can be bought for £5,300 and an i20 for £6,550. If the currency fluctuations continue, the source says that it's possible prices may rise further. Hyundai would like to emphasize though that it has only increased the prices on the Indian-built models
Latest Auto Shows
