AutoBusiness

Price Hike: Hyundai’s Cheapest Car Now Costs Rs. 5.7 Million

Hyundai Nishat Motors Private Limited (HNMPL) has increased the price of its vehicles. The company has raised prices by up to Rs. 500,000, with the cheapest car now costing Rs. 5.7 million.

 

Effective immediately, the new prices are as follows:

Models Old Price (Rs.) New Price (Rs.) Increase (Rs.)
Tucson GLS Sport FWD 6,899,000 7,399,000 500,000
Tucson Ultimate AWD 7,399,000 7,899,000 500,000
Elantra GL 1.6 5,299,000 5,699,000 500,000
Elantra GLS 2.0 5,699,000 6,099,000 400,000
Sonata 2.0 8,199,000 8,649,000 500,000
Sonata 2.5 8,899,000 9,399,000 500,000

 

Following the recent increase in the value of the dollar, prices for a variety of goods, including automobiles, have skyrocketed. Automakers blame the government for the industry’s stalemate. This is primarily due to the failure to issue letters of credit required for the importation of automobiles and auto parts.

Toyota Indus Motor Company (IMC) has again halted production for two weeks due to a lack of inventory. The company will resume operations on a single shift basis on February 15.

The auto industry slump is causing problems for both consumers and automakers, forcing them to cut production as well as resources to deal with the situation.

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