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Falling Ringgit: Hyundai Raised Prices Of Santa Fe, Elantra and Veloster

Hans September 26, 2015 17:27

It’s inevitable. With the Ringgit losing nearly 18 percent in this year alone, and going past a 17-year low value to trade at RM4.40 to 1 US Dollar this morning, it is only a matter of time that prices of cars will go up.

It doesn’t matter if a car is locally-assembled or fully-imported as even locally-assembled cars contain a fairly high number of high precision components that have to be imported – engines, transmissions, infotainment system, electronic control modules, airbags, and many more.

Checks with Hyundai Malaysia’s website revealed that the seven-seater Santa Fe’s starting price (2.4-litre Elegance model) has now been increased by RM8,480 to RM167,735. The price is excluding insurance.

The highest specifications Santa Fe 2.2 CRDi Premium now sells for RM201,134 excluding insurance, up by whooping RM10,589.

The C-segment Elantra’s entry 1.6-litre EX variant starts from RM92,288 (without insurance), up from the previous Elantra Elegance’s RM85,888. Hyundai Malaysia has recently changed its variant line-up for the Elantra facelift and the company has yet to update the e-brochure on its website so we are unsure if the two variants are comparable.

In any case, the highest specifications Elantra 1.8-litre Premium is now RM2,239 more expensive than before, selling at RM118,794.

Meanwhile the Veloster 1.6-litre (non-turbo) Premium now sells for RM135,461 without insurance, up by RM6,395.

Related link:

BMW Group Malaysia: Price Hike Possible If Ringgit Continues To Weaken

Ringgit Hits RM4.33 To The Dollar, Lowest In 17 Years - Hike In Car Prices Imminent?

Perodua Denies Any Move To Raise Prices Due To Falling Ringgit Value

Will Car Prices Increase Following The Sharp Devaluation Of Our Ringgit?

About Hans

As someone who appreciates cars not just for their horsepower value but also for their cultural significance, he is interested in the art of manufacturing and selling cars just as much as driving them. Prior to swapping spread sheets for a word processor, he spent his previous life in product planning and market research.


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