Hyundai Nishat Motors Private Limited (HNMPL) has announced a huge price hike for Elantra. This announcement comes two weeks after the price hike for Hyundai Tucson.
Like several other automakers, HNMPL will implement the new prices in the following sequence:
Effective immediately, the new price of Hyundai Elantra is:
| Model | Hyundai Elantra GLS |
| Old Price | 4,399,000 |
| 50% Revised Price (Rs.) | 4,599,000 |
| 100% Revised Price (Rs.) | 4,799,000 |
| Increase (Rs.) | 400,000 |
The last two years saw the automakers remain fairly consistent with vehicle prices. However, this year, analysts have warned of tumultuous times for the auto industry.
Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Mashood Khan, stated last month that the increase in freight charges, raw material costs, and local currency devaluation will continue to wreak havoc on car prices.
He, along with several others, cited the ongoing Ukraine-Russia conflict as one of the inhibitors of global trade and a major reason for the impending crisis. These details confirm that more price hikes will occur in the future.