Hyundai-Nishat has reportedly reduced the price of its imported Santa Fe SUV by PKR 5.0 million. The vehicle was introduced as a premium product back in February 2019 against a whooping price tag of PKR 1 crore 85 lac, however since then the Santa Fe in Pakistan has kept gracing the showroom floors.
Now with a reduction of PKR 50 lac in price, the Santa Fe can be bought against PKR 1 crore 35 lac. As per reports the SUV was imported in limited numbers but not even 10 units were sold in a period of more than 2 years.
Interestingly, the petrol version of Santa Fe (2.0T) back in its home market (South Korea) cost between KRW 27,450,000 (PKR 36.97 lac) and KRW 36,620,000 (PKR 49.33 lac). Whereas the 2.2L diesel variants are priced between KRW 30,300,000 (PKR 40.81 lac) and KRW 39,650,000 (PKR 53.41 lac).
But the Korean-spec or Santa Fe from any other market for that matter is better equipped for example with 6 airbags as standard. However, the over expensive Sante Fe in Pakistan comes with only 2 airbags whereas the recently introduced local assembled Kia Sorento which is almost half the price of Santa Fe offers 6 airbags as standard across the range.
It is pertinent to mention that the 4th gen Hyundai Santa Fe received a thorough facelift in June 2020 featuring styling as well as performance enhancements.
Although Hyundai-Nishat calls the Santa Fe a premium offering, someone needs to remind them that it’s the Genesis brand which is supposed to be premium. The Hyundai Santa Fe it isn’t actually a premium product for that matter. It’s just supposed to be a mid-sized SUV with decent features on offer, something that competes against the likes of Kia Sorento or perhaps Toyota Fortuner, and should have been priced around the same league.
The massive reduction in price can also be a move to clear out the unsold units which for a period of more than 2 years are gracing the showroom floors. However, it may even open doors for the new Santa Fe facelift to be introduced in Pakistan. But with an unwelcoming response with the pre-facelift Santa Fe due to ludicrous pricing, it looks highly unlikely for the facelift to arrive here.
How well the PKR 5.0 million discount on the Santa Fe will help the company lure buyers especially in presence of a better equipped Kia Sorento or Toyota Fortuner, we will have to wait to find out.