Pricey Hyundai Santa Fe Outsells Many Cars in Pakistan

Hyundai-Nishat launched the Santa Fe hybrid in October 2023 as one of the most expensive locally assembled vehicles in Pakistan. Defying all expectations, though, it got off to a great start in the market, which is struggling with declining sales mainly as a result of economic concerns, with sales plummetting to levels seen 20 years ago.

Many expected it to be a honeymoon phase, as buyers with plenty of cash are normally quick to get their hands on the initial stock of a newly released vehicle, after which the craze usually dissipates. But that hasn’t been the case with Santa Fe which witnessed its highest-ever sales in January 2024 with 225 units sold. This is 4 times higher than Hyundai’s own D-segment Sonata (57 units in January) and twice as much as the C-segment Elantra sedan (132 units in January).

Related: Hyundai Santa Fe Off to a Flying Start in Pakistan

Comparatively speaking, the Honda HR-V sold 73 units while the BR-V only managed to sell 59 in January. Additionally, the prices of these two vehicles are around 40–50% lower than those of the Santa Fe. Other vehicles to post a lower number of sales than Santa Fe in January include the Suzuki Bolan (135 units), Hyundai Porter (120 units), JAC X200 (73 units), Isuzu D-Max (13 units), and BAIC BJ40 Plus (1 unit). Moreover, volume sellers such as Suzuki Cultus, Suzuki Wagon R, Suzuki Ravi, and Hyundai Tucson had similar figures of 273, 320, 287, and 298 units respectively.

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Since its launch, Hyundai has sold 575 units of Santa Fe hybrid, a considerably higher number than the many locally produced, less expensive vehicles available in Pakistan. During the same period (Oct’23 to Jan’24), only 429 units of Honda HR-V and BR-V combined, 169 units of Hyundai Santa Fe, 328 units of Elantra, 63 units of Isuzu D-Max, and just 4 units of BAIC BJ40 Plus were sold.

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The Hyundai Santa Fe hybrid is priced at Rs 129.90 lac for the Smart variant and Rs 146.99 lac for the flagship Signature variant. We will have to wait to see if Santa Fe maintains its sales momentum in Pakistan in the forthcoming months. While it also highlights the broadening economic divide in society, it also substantiates the reason why most automakers are lured to offer high-end expensive vehicles in the country rather than the supposedly unprofitable mass-market models.

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