Hyundai Pakistan raises car prices up to 14% in March

Karachi: Hyundai Nishat Motors, a manufacturer of Hyundai cars in Pakistan, has increased car prices by up to 14 percent in March 2023.

The company made two price revisions within the month, first on March 13, 2023 and second on March 19, 2023. Hyundai chose to increase its car prices on both the occasions.

After imposing 25 percent sales tax on cars with engine capacity of 1400cc and above, Hyundai Pakistan increased its car prices. Additionally, the devaluation of the Pakistani rupee (PKR) against the US dollar has also played a role in the price rise.

Furthermore, the country’s unstable economic condition and fluctuating exchange rate have increased the company’s production costs, forcing them to increase their retail selling prices and shift the burden to the market.

Here are the details of Hyundai car prices since the beginning of March:

Prices of Hyundai Tucson trims have been increased by up to 8.5 per cent:

The ex-factory price of the Hyundai Tucson GLS Sport FWD has been increased from Rs 7.6 million to Rs 8.2 million, showing an increase of 7.9 per cent.

The ex-factory price of the Hyundai Tucson Ultimate AWD has been increased from Rs 8.2 million to Rs 8.9 million, indicating an increase of 8.5 per cent.

Hyundai Elantra trims have received a price hike of up to 13.8 per cent:

The ex-factory price of the Hyundai Elantra 1.6 has been increased from Rs 5.7 million to Rs 6.6 million, which shows an increase of 13.8 per cent.

The X-factor price of the Hyundai Elantra 2.0 has been increased from Rs 6.3 million to Rs 7.1 million, indicating an increase of 12.7 percent.

Prices of Hyundai Sonata trims have been increased by up to 14.1 per cent:

The ex-factory price of the Hyundai Sonata 2.0 has been increased from Rs 9.1 million to Rs 10.3 million, showing an increase of 13.2 per cent.

The ex-factory price of the Hyundai Sonata 2.5 has been increased from Rs 9.9 million to Rs 11.3 million, showing an increase of 14.1 per cent.