Hyundai Elantra Also Gets a Huge Price Hike
Hyundai Nishat Motors Private Limited (HNMPL) has announced a huge price hike for Elantra. This announcement comes two weeks after the price hike for Hyundai Tucson.
Like several other automakers, HNMPL will implement the new prices in the following sequence:
- Those who have made full payment before April 5th, 2022, and are expecting delivery in June will pay the old price.
- Those who have made full payment before April 25th, 2022, and are expecting delivery in May or June will pay the 50 percent price hike.
- Those who book new Elantras after April 5, 2022, will pay 100 percent of the increase in price.
|Model||Hyundai Elantra GLS|
|50% Revised Price (Rs.)||4,599,000|
|100% Revised Price (Rs.)||4,799,000|
An Impending Crisis
The last two years saw the automakers remain fairly consistent with vehicle prices. However, this year, analysts have warned of tumultuous times for the auto industry.
Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), Mashood Khan, stated last month that the increase in freight charges, raw material costs, and local currency devaluation will continue to wreak havoc on car prices.