After Kia, the sister South Korean automaker Hyundai has decided to keep the prices of its vehicles intact despite improving PKR value against the US Dollar in open market.
Keep in mind other automakers including Toyota, Suzuki, Honda, Prince DFSK and United have announced to slash the prices whereas Changan has partially reduced the prices across its lineup. MG, Proton and others have yet to announce their stance on revised prices.
According to Hyundai-Nishat, the company has only increased the car prices by 13% compared to a hike of up to 24% in case of other assemblers. Therefore, Hyundai has decided not to reduce its car prices in Pakistan as the company finds them to be justified compared to the available competition. Furthermore unlike other automakers, the company said it has not suspended bookings for any of its vehicles.
Interestingly however, the company sold just 201 units in July 2022 compared to 1,871 units a month earlier in June, witnessing an 89% decline in sales. While the government has eased the import restrictions on CKD kits, the production crunch is likely to continue in forthcoming months since it will take time for the inventory to reach the production lines.
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