Hyundai, a sister company of Kia in South Korea, has chosen to maintain the prices of its vehicles despite the PKR’s strengthening value versus the US dollar on the open market.
Remember that while Changan has partially dropped pricing across its lineup, other automakers like Toyota, Suzuki, Honda, Prince DFSK, and United have announced price reductions. Others, including MG and Proton, have not yet stated how they feel about the revised prices.
Hyundai-Nishat claims that the business has only raised car prices by 13%, as opposed to rival assemblers who have raised them by as much as 24%. Hyundai has therefore decided against lowering its automobile prices in Pakistan because it believes that they are justified given the competition that is present.
In addition, the business said that, in contrast to other automakers, it has not halted reservations for any of its vehicles.
However, it’s interesting to note that the company’s sales dropped by 89% in July 2022, from 1,871 units in June to just 201 in July. Despite the government’s relaxation of the CKD kit import restrictions, the production shortage is anticipated to persist in the months to come because it will take time for the inventory to reach