Hyundai-Nishat has raised the cost of the Elantra and Sonata sedans, effective from July 25, 2022, following a price increase for the Tucson crossover on July 22.
The Elantra 1.6L’s price has increased by Rs. 7.57 lacs to PKR 50.99 lacs, while the 2.0L’s price has increased by Rs. 5.0 lacs to PKR 54.99 lacs.
Sonata 2.0L prices, on the other hand, have increased by a maximum of Rs. 8.3 lacs, after which they have now increased to Rs. 78.99 lacs, while the 2.5L model has increased by a maximum of Rs. 5.7 lacs and is now available for Rs. 84.99 lacs.
The enormous depreciation of the Pakistani rupee (PKR) versus the US dollar, which had a significant impact on the cost of inputs including CKD/SKD kits, was cited in the notification as the reason for the price hike.
In response to rising gasoline prices, the corporation has also lately increased the freight fees for all of its national destinations.
Due to these problems, major manufacturers had to reduce their manufacturing goals in Pakistan. Toyota Indus Motor Company (IMC) has put a temporary stop to production.
While switching to single-shift manufacturing schedules are Honda Atlas Cars Limited (HACL) and Kia Lucky Motor Corporation Limited (KLMCL).
According to industry reports, Pak Suzuki Motor Company (PSMC) will begin keeping non-production days (NPDs) in August as well.
These actions might make the delivery delay problem worse, which might negatively impact automobile sales in the near future.
To read our blog on “Toyota Indus will stop manufacturing in Pakistan,” click here.
