Hyundai Nishat Motors have announced that it will not be reducing car prices in Pakistan following the appreciation of the Pakistani Rupee against the US Dollar (USD to PKR) despite some major players in the automotive market announcing reduction in their vehicle prices.
The company states that other automotive manufacturers have increased their car prices multiple times due to depreciation of the Pakistani Rupee against the US Dollar, while Hyundai maintained its prices and announced lowest possible revisions in the industry.
According to the company, Hyundai has only increased their car prices 13% compared to a hike of 22-24% in the case of other automotive companies. Therefore, Hyundai Nishat Motors will not be reducing its car prices in Pakistan as the company finds them to be justified compared to the competition.
Moreover, the company added that it has not suspended bookings for any vehicles, unlike other companies. It is pertinent to mention that Kia Lucky Motors had made a similar announcement and refused to reduce prices in line with other automotive companies.
Read more: Kia Will Not Reduce Car Prices Following Dollar Depreciation.
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