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Currency Woes Continue To Delay i10, i20: Hyundai Australia

Unfavourable exchange rates continue to dog Hyundai Australia, playing havoc with its plans to import an all-new replacement for the popular i20. While the Australian-delivered i20 is presently sourced from India at an affordable price, the model


Unfavourable exchange rates continue to dog Hyundai Australia, playing havoc with its plans to import an all-new replacement for the popular i20.

While the Australian-delivered i20 is presently sourced from India at an affordable price, the model that has superseded it in Europe is only built in Turkey.

With the Australian dollar currently only buying 70 Euro cents and profit margins already slim in the light and sub-light segments, the business case doesn't stack up for the Turkish-built new-generation i20.

And nor does it stack up for the even smaller i10 city car, which has also been on Hyundai Australia's wishlist but is also only sourceable from Hyundai's Turkey plant

“i10 and i20, the new generation cars coming out of Europe, present a very challenging business case at that end of the market," Hyundai Australia COO John Elsworth said to the media this week.

"Purely because it’s based around the Euro, and the Euro is proving to be a very challenging currency to work with. I’m not going to go into specifics, but with the Euro at 70 cents, it’s a bit of a challenge."

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