25% GST Effect – Hyundai Prices Increased Again
After the incumbent government increased GST to 25%, the local car assemblers started passing the effect to the customers. After Honda, Toyota, Suzuki, Hyundai prices are also jacked up by a big margin.
The federal government added a 25% General Sales Tax (GST) to expensive goods. The Federal Board of Revenue (FBR) confirmed this additional tax by issuing a new sales tax notification under SRO 297(1)/2023. Yet this tax application also applies to some vehicles that weren’t 1400cc cars. The essential point to observe was that all domestically produced or assembled SUVs and CUVs, including those with engine displacement lower than 1400cc, were included in this tax category. Resultantly, the local auto industry is facing a new price hike.
New Hyundai Car Prices
Here are the new prices of Hyundai cars.
Elantra New Prices
The prices for all the variants of the Hyundai Elantra have been increased.
- The price of Elantra 1.6 increased from Rs. 5,849,000 to Rs. 6,199,000. Meaning the car’s price observed a jump of Rs. 350,000.
- Similarly, the price of Elantra 2.0 got hiked from Rs. 6,349,000 to a whopping Rs. 6,730,000, highlighting an increase of Rs. 381,000.
Sonata New Prices
- Hyundai Sonata 2.0L now costs Rs. 9,679,000 instead of Rs. 9,129,000. Its price is up by Rs. 550,000.
- Moreover, the price of Sonata 2.5L is increased from Rs. 9,939,000 to Rs. 10,530,000. Meaning the price is up by Rs. 591,000.
Tucson New Prices
- Hyundai Tucson FWD used to cost Rs. 7,569,000, but after the price jump of Rs. 461,000, it has now reached Rs. 8,030,000.
- Meanwhile, Tucson AWD saw a price hike of Rs. 490,000, going from Rs. 8,169,000 to Rs. 8,659,000.
What do you think about this new hike in Hyundai Car Prices? Please share your thoughts in the comments section.