Hyundai Nishat Motors Private Limited (HNMPL) has also joined the price hikes bandwagon by revising the prices of Hyundai Tucson. This is the company’s second price hike in just over two months.
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||5,549,000||5,799,000||250,000|
|Tucson Ultimate AWD||5,999,000||6,299,000||300,000|
Like its rivals, HNMPL also pointed to rising raw materials costs, freight charges, depreciating local currency, and other logistical challenges as the reasons for the hike.
However, unlike other automakers, HNMPL has only kept the new prices applicable on bookings made after the price hike announcement. Those who have made bookings before March 25, 2022, will pay the old rate.
Interestingly, however, Hyundai has only increased the price of Tucson. It bears noting that SUV was HNMPL’s best-selling vehicle for February 2022, with nearly 800 units sold in a month.
Market reports suggest that the Korean carmaker will increase the prices for the rest of its lineup as well due to mounting cost pressures.