Hyundai Nishat Motors Private Limited (HNMPL) have increased the price of Hyundai Elantra and Sonata in Pakistan from 1st October 2022 due to the uncertain economic conditions and increasing cost of doing business. According to the details, the price of Hyundai Elantra and Sonata has been increased by up to Rs. 400,000 depending on the variant.
The increase in prices of Hyundai Elantra and Sonata come as Pakistani Rupee continues its downward trend against the US Dollar (USD to PKR) for the last ten days and the situation is expected to get worse in the coming weeks as pressure mounts on the local currency with increasing imports and political instability.
“At HNMPL, we have tried to accommodate our customers; however, with the current situation, we are forced to increase prices for selected variants,” the company said in the notification.
Hyundai Elantra Price in Pakistan
| Variant | Current Price (PKR) | New Price (PKR) | Difference (PKR) |
|---|---|---|---|
| Elantra 1.5 | 5,099,000 | 5,099,000 | 0 |
| Elantra 2.0 | 5,499,000 | 5,699,000 | 200,000 |
According to the notification, the new price of Hyundai Elantra 2.0 in Pakistan is Rs. 5,699,000 (including CVT) compared to the old rate of Rs. 5,499,000 after an increase of Rs. 200,000. However, the company has not increased the price of Hyundai Elantra 1.5, which remains at Rs. 5,099,000.
Hyundai Sonata Price in Pakistan
| Variant | Current Price (PKR) | New Price (PKR) | Difference (PKR) |
|---|---|---|---|
| Sonata 2.0 | 7,899,000 | 8,149,000 | 250,000 |
| Sonata 2.5 | 8,499,000 | 8,899,000 | 400,000 |
According to the notification, the new price of Hyundai Sonata 2.0 in Pakistan is Rs. 8,149,000 (including CVT) after an increase of Rs. 250,000 from the old rate of Rs. 7,899,000, while the updated price of Hyundai Sonata 2.5 is Rs. 8,899,000 (including CVT) from the old rate of Rs. 8,499,000 after an increase of Rs. 400,000.
It is pertinent to mention that Hyundai Nishat Motors Private Limited (HNMPL) did not reduce prices back when Pakistani Rupee made massive gains against the US Dollar and all other automotive companies adjusted prices to accommodate customers.
Meanwhile, HNMPL has increased the price of Hyundai Elantra and Sonata in Pakistan, which takes place from 1st October 2022, when no other company, that reduced prices last month, has done so for their own cars. However, the other companies are expected to follow in this trend but it is expected due to the depreciating Pakistani Rupee.
Read more: Toyota To Shut Down Production in Pakistan For Indefinite Period.
