Overview
Pakistan’s automotive industry is affected by the devaluation of the rupee value and import restrictions. Despite the tough environment, the Hyundai Tucson car maintained its positive sale performance. Even though the tight financial conditions the car has reached a good sale volume.
There are multiple factors right now affecting the smooth environment of the automotive industry. Import restrictions on CKD kits and other vehicle parts have made troubles for automakers. Automakers observe huge sale decline on a YoY basis. Hyundai cars are also affected by it and the company has increased the prices several times in a year. Automakers observe several non-productive days and an almost half on half decline in sales in the fiscal year.
Hyundai Tucson Sale
Hyundai Tucson successfully increased its sale volume. As per the report, Hyundai Tucson observes an increase of 60% in its sale in the first 8 months of the fiscal year. last time same time period Hyundai Tucson sold only 2,230 and this year Tucson sold 3,572 units.
The company has brought itself in a better position compared to the previous time. the impressive increase in sales maintains Tucson’s position in the market.
Hyundai Sale
A Korean auto manufacturer Hyundai presenting its vehicles in Pakistan with a collaboration of Nishat Group. Hyundai Nishat Group presents luxury cars in Pakistan. the company is doing great performance in the market.
Hyundai’s sale performance went average throughout the tough time. The overall vehicles sale is not declining by a huge margin. Hyundai has maintained its position in sales during this period. As of the first 8 months of the current fiscal year Hyundai Elantra sold 1,698 units compared to the 8 months of FY2022 Hyundai sold 1,929 units of Elantra and observe a 12% decline. Similarly, Porter’s sales declined by 27% as the company has only sold 848 units in the first 8M of FY 2023, and 1,161 units sold in the first 8M of FY 2022. Meanwhile, Hyundai Sonata claims a huge decline in a sale as only 948 units sold in 8M of FY2023, and in the previous first 8m of FY2022 Hyundai witnessed 1,638 units sold, a total decline of 42% in sales.
Conclusion
Hyundai Tucson contributes a great part to sales and helps the company to continue its position in the market. On the other side, there are very few vehicles in the market maintaining the position during the period. Even after increasing the car prices due to 25% GST Hyundai continues the sale of its vehicle and Tucson is going the best way.
