KARACHI: Hyundai Nishat Motors – manufacturer of Hyundai cars in Pakistan – raised the car prices up to 14 per cent in March 2023.
The company made two price revisions within the month, with the first on March 13, 2023 and the second on March 19, 2023. Hyundai opted to increase their car prices on both occasions.
Following the imposition of 25 percent sales tax on cars with an engine capacity of 1400cc and above, Hyundai Pakistan increased their car prices. Additionally, the devaluation of the Pakistani Rupee (PKR) against the US Dollar has also played a role in the price hike.
Moreover, the unstable economic situation of the country and volatile exchange rate have raised company’s production costs, forcing them to increase their retail selling prices and transfer the burden to the market.
The details of the Hyundai car prices from beginning of March are as follows:
The prices of Hyundai Tucson trims have been raised up to 8.5 per cent:
The ex-factory price of Hyundai Tucson GLS Sport FWD has been increased from Rs7.6 million to Rs8.2 million, indicting an increase of 7.9 per cent.
The ex-factory price of Hyundai Tucson Ultimate AWD has been increased from Rs8.2 million to Rs8.9 million, indicating an increase of 8.5 per cent.
The price of Hyundai Elantra trims have been increased up to 13.8 per cent:
The ex-factory price of Hyundai Elantra 1.6 has been increased from Rs5.7 million to Rs6.6 million indicating an increase of 13.8 per cent.
The ex-factor price of Hyundai Elantra 2.0 has been increased from Rs6.3 million to Rs7.1 million, indicating an increase of 12.7 per cent.
The prices of Hyundai Sonata trims have been raised up to 14.1 per cent:
The ex-factory price of Hyundai Sonata 2.0 has been increased from Rs9.1 million to Rs10.3 million indicating an increase of 13.2 per cent.
The ex-factory price of Hyundai Sonata 2.5 has been increased from Rs9.9 million to Rs11.3 million showing an increase of 14.1 per cent.
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