Hyundai Nishat Motors Private Limited (HNMPL) has increased the prices of its cars following a 1% General Sales Tax (GST) hike. The company has increased the prices by up to Rs. 100,000, after which, its cheapest car now costs over Rs. 5.7 million.
The new prices are as follows:
| Models | Old Price (Rs.) | New Price (Rs.) | Increase (Rs.) |
| Tucson GLS Sport FWD | 7,399,000 | 7,464,000 | 65,000 |
| Tucson Ultimate AWD | 7,899,000 | 7,969,000 | 70,000 |
| Elantra GL 1.6 | 5,699,000 | 5,749,000 | 50,000 |
| Elantra GLS 2.0 | 6,099,000 | 6,154,000 | 55,000 |
| Sonata 2.0 | 8,649,000 | 8,724,000 | 75,000 |
| Sonata 2.5 | 9,399,000 | 9,484,000 | 85,000 |
After the recent rise in dollar value, the prices of numerous goods, including automobiles, have spiraled out of control. To top it off, the government has also increased GST on cars by 1%.
Automakers blame the government for stalled operations of the industry. This is primarily due to the restrictions on LCs required for the clearance of imports.
Due to an inventory shortage, Pak Suzuki Motor Company (PSMC) has again halted production for two weeks. Other automakers have also decreased their production volumes for the same reason.
The downturn in the auto industry is causing problems for consumers and automakers.
