Hyundai breaks its sales records in Pakistan

Hyundai Nishat produces expensive vehicles; so, the highest sales in the last month shows that rich are buying more cars despite recession.

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According to a recent report, Hyundai Nishat had the highest monthly car sales in Pakistan. The sales of Hyundai Nishat Motor Company Limited (HNMPL) have, at best, been restrained ever since the company was founded. Nevertheless, with its sales in June of 2022, the corporation made the official transition into the area of the giants.

According to an unofficial update provided by a reliable source, HNMPL broke its previous record of 1,710 units sold in May 2022 by selling more than 1,870 units last month. The previous record was set in May 2022. It is important to note that the car selection offered by the corporation is limited to those with prices that fall either below or slightly beyond Rs. 4 million; this fact alone makes the increase extremely fascinating.

According to the latest information, the Hyundai Tucson has continued to be the most popular model offered by the company, with sales of just under 900 units. Following it was the Hyundai Elantra, which sold just under 500 units in total. While Porter finished in third place with sales of fewer than 300 units, Sonata finished in last place with sales of slightly more than 200 units.

Even though HNMPL may be savouring this success, it is important to note that this victory will be fleeting. The recent implementation of a new tax system by the government, a decline in the value of the local currency, and increases in the cost of gasoline and automobiles are all factors that analysts predict will contribute to a precipitous drop in sales in the days ahead.

Read more: Hyundai increases car prices in Pakistan after govt imposes taxes

Both Toyota Indus Motor and Honda Atlas Cars have already admitted that they are experiencing problems in their operations and have pointed to the aforementioned issues as the root causes. The effects of inflation are being felt throughout the whole automotive sector, and it is highly possible that HNMPL will have the same difficulties in the near future.

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