Hyundai Elantra Sees A Significant Rise In Prices
April 7, 2022 / By Zunair Tahir / Automotive News
HNMPL (Hyundai Nishat Motors Private Limited) has announced a significant price increase for the Elantra. This statement comes two weeks after the Hyundai Tucson’s price increase.
| MODEL | Hyundai Elantra GLS |
|---|---|
| Old Price | PKR 4,399,000 EST |
| 50% Revised Price (Rs.) | PKR 4,599,000 EST |
| 100% Revised Price (Rs.) | PKR 4,799,000 EST |
| Increase (Rs.) | PKR 400,000 EST |
The automakers’ car costs have been reasonably stable over the previous two years. Analysts have predicted stormy times for the car sector this year.
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Mashood Khan, chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), indicated last month that rising freight costs, rising raw material expenses, and the depreciation of the Pakistani rupee will continue to cause havoc on automobile pricing.
HNMPL, like a number of other automakers, will adopt the revised pricing in the following order:
- Those who paid in full by April 5th, 2022, and expect delivery in June will be charged the previous price.
- Those who paid in full before April 25th, 2022, and expect delivery in May or June, will face a 50% price increase.
- Those who order new Elantras after April 5, 2022, will be charged the full price hike.
He, like numerous others, pointed to the current Ukraine-Russia war as a major impediment to global commerce and a contributing factor to the looming catastrophe. More price spikes are likely in the future, based on these details.
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