Price-Hikes, Delivery Delays, and Non-production days | CarMandee Blogs | CarMandee

Price-Hikes, Delivery Delays, and Non-production days

Ishaq Nabi
by Ishaq Nabi

25-7-2022

3 min read

Pinned

With the rampant inflation, soaring petrol prices, and the ban on car imports, a price hike by automakers was imminent.

Price-Hikes, Delivery Delays, and Non-production days

Owing to the unstable political and economic climate in the country, Hyundai and Kia-Lucky Motors have announced a price elevation. Moreover, the historic devaluation of the Pakistani Rupee against the US Dollar was the last nail in the coffin. The US Dollar increased from Rs. 206 to Rs. 228 in the last month. However, what lies in the future is still uncertain and intimidating.

Thus it came as no surprise when various car companies made some big announcements.

Hyundai Nishat Announcement

Hyundai Nishat has currently announced a price increase for its Tucson models. While it has not increased the prices of its other models, owning to its acknowledgment policy, it's likely that another increase if implemented will befall buyers.

Hyundai Nishat

The acknowledgment story goes like this, dealerships will require customers to sign an acknowledgment that in case of a price increase, buyers will have to bear the burden. This acknowledgment whose original document along with the HNMPL copy of the PBO form will be dispatched by the dealership.

An official from Hyundai Nishat stated regarding the acknowledgment form, “It’s an undertaking form for the customer to sign in order to book the vehicle with the understanding that prices will increase prior to delivery.”

This simply means that Hyundai prices are going up in the near future, otherwise, why would the company make the customers sign this beforehand?

Toyota Indus’ Apology

Due to the uncertain and volatile political and economic situation in Pakistan, Toyota Indus had issued a public apology for its delivery delays as well as the suspension of bookings. Although this step enraged and agitated many car enthusiasts who were eagerly waiting for their new car.

Toyota Indus

Moreover, the company has announced non-production days, which means the company will be facing losses on a daily basis until it starts laying employees off. Which is worse than delivery issues.

There are rumors and fake posts online of another price increase for Toyota cars in Pakistan, however, according to our sources, none of that is true.

As for the bookings, we are also not sure when the booking will open. Due to the import ban and non-issuance of Letter of Credit (LCs), the auto sector is in a huge mess.

When will other auto-manufacturers increase prices?

When other automakers will increase their car prices in Pakistan is not exactly known. We are in touch with all of them, and as soon as any brand announces a price hike, we will be revealing it to you.

This is the fourth price hike since the start of the year. Owning a personal car is a dream of many however with the continual price hikes, we wonder if a salaried person will be able to afford a car.

What’s worse is the massive delivery delays, and suspended bookings. The government’s import ban is causing a massive issue across the auto industry. Let’s see when the government decided to lift it off. Until then all we can say is “this too shall pass”.

©2022 CarMandee. All rights reserved.
CarmandeeTypically replies within a day
Carmandee

Hello! 👋🏼 What can we do for you?

13:18