Hyundai Nishat Motor (Private) Limited has increased the price of Tucson variants by up to Rs 300,000, following Kia, Toyota, and Honda. According to the company’s announcement, the new costs will apply to all new purchases with a booking date of March 25th, 2022 and afterwards.
Hyundai Tucson New Prices
The new prices of Hyundai Tucson are:
|Variants||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
|Tucson GLS Sport FWD||5,549,000||5,799,000||250,000|
|Tucson Ultimate AWD||5,999,000||6,299,000||300,000|
Hyundai Nishat announced in a statement that order processing for the Hyundai Tucson will resume on March 25th, 2022. Meanwhile, the corporation cited devaluation of the Pakistani rupee against the US dollar, rising commodity costs, and global freight rates as reasons for the new raise. “As a result of these factors, the input cost of our CKD kits and local parts has grown, causing us to substantially raise the cost,” according to the manufacturer.
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Price Hikes Justifications by Car Companies
Hyundai Nishat Motors, Kia Lucky Motors, Toyota Pakistan, and Honda have all raised their vehicle pricing in the past. The same justifications have been provided by the above-mentioned manufacturer for these price increases. Because car rates have risen steadily in recent years, these current hikes will undoubtedly have an impact on the purchasing power of the general public.
Read more: Hyundai Nishat stops bookings for Tucson due to chip shortage
These increases are COVID-19’s aftershocks, as shipping costs and material prices are skyrocketing on a global scale. The international car market, like Pakistan’s, is going through a tough time and we really hope the industry finds stabilization.
Furthermore, the Pakistani government must seize control over the continued depreciation of the Pakistani rupee versus the US dollar, or prices will continue to rise.