Hyundai car prices also increased by Hyundai Nishat Motors amid the recent price hike. All major car brands of Pakistan surges their prices this month. They blame rupee fluctuations, high material costs, costly shipping, and ever-increasing freight rates for the escalation in prices.
Hyundai car prices in Pakistan after the recent increase will be as follows:
| Hyundai Cars | Old Price in Rs. | Price increase in Rs. | New Price in Rs. |
| Elantra 2.0L | 3,899,000 | 100,000 | 3,999,000 |
| Tucson GLS Sport | 4,979,000 | 200,000 | 5,179,000 |
| Tucson Ultimate | 5,469,000 | 200,000 | 5,669,000 |
| Sonata 2.0L | 6,399,000 | 100,000 | 6,499,000 |
| Sonata 2.5L | 7,099,000 | 200,000 | 7,299,000 |
Furthermore, according to the Hyundai Nishat Motor Company?s notification:
- The new price for Elantra and Sonata will be applicable on all orders with allocation of January 2022 and onwards with invoicing date of January 1st, 2022 and onwards.
- The current price for Elantra and Sonata will be applicable on all partial payment orders for tentative delivery month till December 2021.
- The new price for Hyundai Tucson will be applicable on all new orders with booking date of December 1st, 2021 and onwards.
- The prices are Ex-Factory Faisalabad per unit inclusive of 17% Sales Tax and dealer?s commission.
The domino effect of price increases is in full swing, and all automakers are expected to follow suit. KIA was the first to increase their car prices, followed by Toyota, Honda, and Suzuki. However, except for Kia Lucky Motors, which hiked the prices of the Carnival (a CBU vehicle) while leaving the Sorento (a locally produced vehicle) alone, all automotive firms only raise the cost of their locally assembled vehicles.
The cost of raw materials such as steel and aluminium has grown in the international market, according to analysts. While the dollar has reached an all-time high in Pakistan, putting pressure on the import bill. Furthermore, sea freight rates have also increased.
