Where Honda Atlas and Pakistan Suzuki are observing their fortunes reversed, Hyundai Sales have done wonders. Pakistan Automotive Manufacturers Association (PAMA) has posted in a report that Hyundai sales went uphill by 860% last month – a big milestone the carmaker has achieved.
How HNMPL Crashed the bestseller?
Surprisingly, Hyundai did what the other car giants had been waiting for long – crashed all the bestsellers on the list – take a bow “Tucson” – the best-selling crossover of the company.
Reports have revealed that the company sold 985 units of Tucson last month against 104 units in July. Similarly, after flaunting three-digit figures in sales charts, Sonata and Elantra did their bit to achieve the whooping target. Hyundai has the biggest sales with 581 and 234 units of Elantra and Sonata, respectively.
Zero Sales in July
The company witnessed zero sales of Sonata and Elantra in July and an 89 percent dip in month-on-month sales. Simply put, Hyundai Nishat failed to sell even a single unit of its Sedans Sonata and Elantra, collectively selling 213 units.
DG Cement invest Rs. 900mn in Hyundai
DG Khan Cement on Tuesday disclosed that it would be investing Rs. 900 million in Hyundai Nishat Pakistan.
“All the shareholders are going to put money in. Because of the high-interest rates, we wanted to bring the debt down in the company and improve our debt-equity ratio,” said Hassan Mansha, CEO of Hyundai Nishat.
“The amounts (by other shareholders) will depend on their shareholding percentage,” he added. As per its annual report for 2021, DGKCC has already invested Rs. 948.730 million and provided a guarantee for Hyundai to obtain Rs 1,269.671 from Meezan Bank Limited.
