Following Kia Lucky Motor Corporation’s (KLMC) footsteps, Hyundai Nishat Motors Private Limited (HNMPL) has decided that it will maintain its new prices despite a considerable improvement in the Rupeeās value against the US Dollar (USD).
A dealership representative told ProPakistani that the company is yet to issue an official notification in this regard. However, company representatives have communicated to the dealerships that the prices will remain the same.
HNMPL presented the same argument as KLMC, stating that it had increased its car prices by 14%, which was significantly lower than other automakers that increased their prices by 19-23%. It added that other automakers had no choice but to revise their prices after comparatively larger hikes, while HNMPL went for a sustainable approach.
Industry Situation
It bears mentioning that, while the government has eased the import restrictions on CKD car kits, sales are likely to suffer due to a recent production crunch and price hikes. The operational hiccups have also aggravated the delivery delay issue, which has dampened the demand for new cars.
Reports suggest that the CKD kits are yet to reach the production line, forcing carmakers to continue observing non-production days (NPDs). With these issues still ongoing, the remaining 2022 will likely be slow for the car industry.
