Hyundai-Nishat while witnessing a wonderful time with the likes of Tucson, Sonata, and even the flagship Santa Fe hybrid, is struggling to push the Elantra out of the showroom floors despite desperate efforts to lure buyers.
Elantra not only happens to be the slowest-selling model in Hyundai’s local portfolio but is also among the worst performers among locally assembled cars in Pakistan. As of the first 8 months of this fiscal year, only 686 units have been sold which renders a monthly sales average of just 85 units. This is nearly 60% less than the 1,698 units sold during the corresponding period of the previous fiscal year when the monthly sales average used to be around 212 units.
The C-segment sedan competes against the likes of the Toyota Corolla and Honda Civic which despite comparatively higher pricing sells at a monthly average of 590 units, and 305 units respectively. The Elantra in Pakistan is the obsolete 6th generation model which was globally phased out in 2020. Its successor, the 7th gen Elantra has already received a facelift and is likely to be replaced by a newer generation model within a couple of years. Elantra’s competitor Corolla too, is an obsolete generation model on sale for almost a decade but has been the most preferred sedan in Pakistan and enjoys the status of being a household name.
The probable reasons why Elantra hasn’t yet been able to pick up sales are its maintenance cost as well as its upfront pricing which is more than the corresponding Corolla variant. For example, the base Corolla Altis X 1.6 is priced at PKR 59.69 alc, whereas the base Elantra GL 1.6 is priced at PKR 63.99 lac.
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On the other hand, the flagship Corolla Altis X Grande 1.8L variant costs PKR 75.49 lac, and while the top-spec Elantra costs PKR 69.30 lac, it has a 2.0L engine under its hood which is a compromise on fuel economy and results in higher taxations compared to the flagship Corolla Altis X Grande, not to mention the resale factor which is an important aspect for anyone opting for a new car in Pakistan.
Introducing the latest 7th-gen model will likely push the prices of Elantra further up, pushing it into the league of Honda Civic, the price domain where Hyundai has efficiently placed their D-segment Sonata sedan which is doing reasonably well considering the price & package it offers.
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Perhaps a more sound move for Hyundai will be to bring in the Verna sedan which is a B-segment rival of the likes of Honda City and Toyota Yaris. If priced around PKR 50-55 lac it holds quite a decent chance to become a success just like other Hyundai vehicles available in Pakistan. At this stage, Hyundai-Nishat needs to devise some bold plans and an extensive product upgrade to increase Elantra sales, instead of only providing free registrations, a few meager incentives, and just “waiting” for things to improve.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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