Tag: Hyundai
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Car sales in Pakistan drop by 65% due to low purchasing power, supply chain disruptions
According to data from the Pakistan Automotive Manufacturers Association (PAMA), passenger car sales in Pakistan experienced a significant decline of 65 per cent in January 2023 compared to the same period the previous year. This was attributed to a shortage of raw materials, low purchasing power, and price surges. With the exception of Suzuki’s Swift,…
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Pakistan’s auto sector witnesses 39% increase in car sales in November
According to data from the Pakistan Automotive Manufacturers Association, sales of passenger cars increased slightly in November 2022 compared to the same month in 2021. Analysts anticipate more improvement in the upcoming months due to the better availability of raw materials for the automakers following an increase in the issue of letters of credit. In…
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Hyundai sedan prices raised up to Rs830,010 amid rupee devaluation
Hyundai Nishat, like other automakers, has announced a major hike in costs for the Elantra and Sonata variants as a result of the unstable local currency and increased tax rates. The updated price for the Hyundai Elantra 2.0 is Rs5,499,000 (including CVT) compared to the old rate of Rs4,998,490 after an increase of Rs500,510. The…
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Hyundai-Nishat announces a hefty price hike following KIA
Hyundai-Nishat Motors raised the pricing of its Tucson variants by Rs1.1 million, citing the decline in the currency as the primary cause, following Lucky Motor Corporation’s price increases for its KIA-brand vehicles. After an increase of Rs1.1 million price increase for the c, the Hyundai Tucson FWD model is now offered for Rs6.89 million. The…
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Getting a new car? Check out the new advance tax imposed on your favourite vehicle
The government has released the fiscal budget for 2022-23, which includes several changes, including a 200 per cent advance tax on the purchase of cars with engine displacements greater than 1600cc for non-filers. This decision is likely to possess a considerable effect on the sales of several cars in Pakistan, which have already witnessed multiple price hikes…
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Hyundai Sonata 2.5 will now cost Rs7.85 million
Like the majority of automakers in Pakistan, Hyundai Nishat has joined the price hike bandwagon by raising the price of its sedan offerings; the Elantra GLS, Sonata 2.0, and Sonata 2.5 variants, due to increased shipping costs and continuous depreciation of the local currency. The premium category sedan, Hyundai Sonata 2.0 witnessed an increase of…
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Hyundai’s electric vehicle wins ‘World Car of the Year’ award
The winners of the World Car Awards for 2022 were recently announced at an event held during this year’s auto show. Pure-electric vehicles won the majority of the coveted prizes, indicating how the world’s automotive marketplace is changing from combustion to electrification and demonstrating how emission-free autos are equal to or better than their gasoline…
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Hyundai Pakistan launches another variant of obsolete Elantra
Hyundai-Nishat has introduced the long-awaited Elantra GL 1.6, with a hefty price tag of Rs4.3 million for the ‘base trim’. This model was predicted to compete with the Altis X 1.6, but Rs4.3 million for a base model does not seem to attract much for a car that already existed. The ‘latest sedan’ is now…
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Car sales up by 53.7 per cent in 2022, despite repeated price hikes
The latest data provided by the Pakistan Automotive Manufacturing Association (PAMA) shows that overall car sales climbed by 53.78 per cent during the first nine months of the current fiscal year 2021-22 (July-March) compared to the same period in the past financial year. Keeping in view the recent figures, 172,612 vehicles were delivered in the…
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Car prices in Pakistan expected to increase by 15 per cent
Three prominent automakers in Pakistan including Suzuki, Honda, and Hyundai are expected to announce a price hike within two weeks, due to the depreciation of the rupee against the US dollar and rising prices of imported raw materials. Analysts expect car prices to increase by up to 15 per cent. It is worth noting that…