Hyundai Nishat announces an Increase In The prices of the Hyundai Tuscon

Hyundai Nishat has announced that it is elevating the prices of the Hyundai Tuscon up to Rs. 300,000. This new price hike will be applicable once the company resumes booking for the vehicle from 25th March 2022. However, this increased price will be subjected for new. Anyone who has ordered before this date and is awaiting delivery will not pay the new price.

New Prices

The new price of Hyundai Tucson GLS Sport (FWD) is Rs. 5,799,000 observing a massive price hike of 2.5 Million Rupees. Whereas it previously used to cost Rs. 5,549,000.

Meanwhile, Hyundai Tucson Ultimate’s (AWD) has seen a price amplification of 3 Million Rupees, and its new price is Rs. 6,299,000 against the last recorded rate of Rs. 5,999,000.

Official Statement by Hyundai

In the official statement stated by the company, the core reason behind the price hike is the rapidly depreciating value of the rupee in the global market. Moreover, the cost for commodities and skyrocketing freight charges have contributed to the sudden increase in prices. They further stated that the input cost for the CKD kits and local parts assembly have been affected.

The combination of all of these factors has resulted in the decision to increase prices. The global auto market is going through a tumultuous phase after the COVID-19. World politics and the semiconductor chip crisis play a crucial role in determining the state of things. Owing to these similar factors, Kia Motors and Toyota also announced an increase in prices.