With the emission norms coming to a new dawn from April 2020 India’s second-largest passenger vehicle manufacturer Hyundai has indirectly indicated that it might not entirely increase the prices for its upcoming BS6 line-up. So basically Hyundai India has said a big ‘NO’ to the price hike for BS6 variants which can be considered as a really bold move by the company.
According to leading media reports and many automobile analysts, if Hyundai tends to follow this strategy, there are high hopes that it could leave its competitors behind.
Hyundai Motor India, MD & CEO, SS Kim told a leading media house “In some cases, we will be absorbing part of the cost increase considering the poor demand conditions. For competitive reasons too, we will ensure there is a balance as far as price increases across the portfolio are concerned.”
This step from Hyundai could change the conventional thinking for a certain set of consumers who are rushing to buy the soon to be discontinued, BS4 models before April 2 and with the worst industry-wide slump the Indian auto sector has been going through Kim strongly believes that if the prices go up all at once, It might impact the customers sentiment. Adding further Kim also went on to say “We would not like to put the customers in a position wherein they freeze their purchases. It may take around a year for them to get used to the new price regime”
The bare announcement from Hyundai has already made the industry tipsy to its core but the very first thing to be seen will be how active Hyundai will try and push this plan to its full strength.