Hyundai raises car prices up to Rs830,010
Hyundai Motor plans to roll out small electric sport utility vehicles next year. PHOTO: REUTERS
Hyundai has increased prices of its cars up to Rs830,010.
The automaker enhanced the price of Elentra 1.6 from Rs4.341 million to Rs5.099 million. It increased the price of Elentra 2.0 to Rs5.499 million after a hike of Rs500,510.
The company’s Sonata 2.0 became costlier by Rs830,010 to Rs7.899 million. It increased the price of Sonata 2.5 from Rs7.927 million to Rs8.499 million, a difference of Rs571,510.
Auto analyst Arsalan Hanif said automobile assemblers were increasing car prices in line with the rupee depreciation as keeping prices unchanged would have an adverse impact on their earnings.
Last week, Hyundai Nishat hiked prices of Tucson FWD and Tucson AWD vehicles by Rs1.1 million.
The company increased Tucson FWD price to Rs6.899 million and Tucson AWD price to Rs7.399 million, as per the company dealership and JS research.
“Auto assemblers have been affected the most by the rupee devaluation as most of the auto parts are imported,” Hanif told The Express Tribune.
Published in The Express Tribune, July 26th, 2022.
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