The current wave of price hikes in the automotive sector continues as Hyundai Nishat Motors has notified of an increase in the Hyundai Elantra Price in Pakistan. In a notification issued by the company, the new Price of Hyundai Elantra will go into effect from 5th April 2022. However, the company will follow a stepwise approach to implement the price hike for customers.
Hyundai Elantra Price in Pakistan
The new Price of Hyundai Elantra GLS in Pakistan is Rs. 4,799,000, which is a jump of Rs. 400,000 from the old rate of Rs. 4,599,000. However, the new price will only be applicable to all new orders booked on or after 5th April 2022 as the company has raised prices with a stepwise approach.
Step 1 Price – Rs. 4,399,000
The current Price of Hyundai Elantra will be applicable on all orders where full payment has been made before 5th April 2022 or before with tentative delivery month of June 2022. Furthermore, the current price will be charged on all partial payment orders with April 2022 as the delivery month provided that payment instrument date is received on or before 25th April 2022.
Step 2 Price – Rs. 4,599,000
In this step, the company will charge a 50% increase in the Price of Hyundai Elantra if full payment was made before 25th April 2022 with delivery month of May and June 2022.
Step 3 Price – Rs. 4,799,000
In the last step, the company will charge the new price of Hyundai Elantra to all customers who place orders on or after 5th April 2022.
It bears mentioning that Hyundai Nishat Motors has also increased the Price of the SUV, the Hyundai Tucson, just a few weeks ago while citing the devaluation of Pakistani Rupee against the US Dollar (USD to PKR). as the main reason behind the decision.
Meanwhile, all other car manufacturers are also increasing their vehicle prices, including Honda Atlas, Toyota’s Indus Motor Company (IMC), Pak Suzuki Motor Company (PSMC), Hyundai Nishat Motors, Proton Pakistan, United Motors and BAIC-Sazgar.