Hyundai Nishat Motors’ Executive Vice President of Sales and Marketing, Hideo Takenaka, has said that despite a huge demand for the company’s hybrid electric vehicles in Pakistan, no such cars can be promised because of the country’s low-quality fuel problem.
He said that the locals want Ioniq to be part of Hyundai’s collection for the Pakistani market. However, this may not be possible.
“Pakistan has a very unique problem of low-quality gasoline oil and this is restricting us from introducing hi-tech cars in Pakistan,” he said.
Takenaka also said, “We would like to introduce eco-friendly cars with an acute difference compared to existing Japanese manufacturers, but the quality of local fuel does not allow us.”
In 2018, Pakistan upgraded to RON97-high octane petrol amid pressure from the local auto players. This marginal upgrade enabled Hyundai to bring its Euro-3 engine sports utility vehicle- Santa Fe in Pakistan. It is the company’s first such variant for the Pakistani market.
The Hyundai executive does not see a promising short term outlook of the Pakistani market. He says,
In the short term, the auto market is likely to face the negative impacts of currency devaluation, higher interest rate, etc. But by 2025, the local auto market’s size is likely to touch 500,000 units per year from the current size of 260,000 units.
However, he was positive that more auto manufacturers would enter the Pakistani market in the long run. Takenaka said that Hyundai is considering to enhance the available choices available regarding SUVs. He stressed that the choices should be unique when compared to the current assemblers.
“We are analyzing which model is adequate for this market, but of course, we will try to offer something unique and will not follow the likes of existing market players,” he said.