Hyundai Nishat Motors Private Limited (HNMPL) has also joined the latest price hike cycle by increasing the price of its best-selling SUV. This is the third time in 2022 that HNMPL has increased the price of Hyundai Tucson, with the latest hike being its biggest yet.
Effective immediately, the prices of both Hyundai Tucson variants are as follows:
|Variants||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
|Tucson GLS Sport FWD||5,856,990||6,899,000||1,042,010|
|Tucson Ultimate AWD||6,361,990||7,399,000||1,037,010|
Like its rival, HNMPL also pointed to rising raw materials costs, freight charges, depreciating local currency, and other logistical challenges as the reasons for the hike.
Interestingly, however, the company hasn’t increased the prices of Elantra and Sonata yet. That is possibly due to no imports of more completely knocked down (CKD) kits at the new US Dollar rate because of low sales volume.
Tucson, on the other hand, remains HNMPL’s star vehicle due to the high demand for crossover SUVs. Whether it stays the company’s best-selling vehicle after the price hike or not, remains to be seen.