Hyundai Nishat Motor Private Limited (HNMPL) will increase the prices of its sedan models next month. The latest price hike is likely due to the resurgence of US dollar against Pakistani Rupee (PKR), although the company has not made an official statement in this regard.
Effective as of October 1, 2022, the new price will be as follows:
| Models | Current Price (Rs.) | Revised Price (Rs.) | Increase (Rs.) |
| Elantra 2.0 | 5,499,000 | 5,699,000 | 200,000 |
| Sonata 2.0 | 7,899,000 | 8,149,000 | 250,000 |
| Sonata 2.5 | 8,499,000 | 8,899,000 | 400,000 |
Note that HNMPL has not increased the price of Elantra 1.5 and Hyundai Tucson. This implies that another price hike announcement is inbound. Also, the company will charge old prices from customers who book the car by paying the full price before October 1.
Hyundai’s Comeback
HNMPL had a successful August 2022, witnessing a massive rise in sales. The company sold over 1,900 units last month, recording an 860% Month Over Month (MOM) increase in sales, beating Honda Atlas Cars Limited (HACL) in the process.
In July 2022, HNMPL sold only 201 cars in total, recording zero sedan sales. The company made a glorious comeback the following month, due in large part to strong sales of Hyundai Tucson.
The automaker plans to capitalize on its success by reducing the delivery time for its cars by a month. Automakers such as Toyota, Honda, Suzuki, etc. are facing severe supply chain issues, reducing production and increasing delivery times as a result. Taking advantage of the situation, HNMPL has launched this limited-time offer to increase sales.
Although, the latest wave of price hikes may be a hurdle in the company’s progress.
These are just dirty tactics, to trigger sales in the people by causing desperation.