Hyundai Nishat is expected to offer three vehicles June 2021

07 Dec 2019

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Hyundai Nishat is expected to offer three vehicles June 2021

Hyundai Nishat seems to work on long term plans instead of being worried of low sale of Vehiclesin the country. In auto industry of Pakistan, the Hyundai Nishat re-entered two years ago that was in result of cooperation with Nishat group. According to Auto Industry Development Policy ADP, the company was given green field status. After which it established a production plant of Vehicles at local level. The manufacturer recently launched its first flagship 2600cc which is named as Porter H-100. It is Light Commercial Vehicle LCV.

Apart from this the company has planned to launch three passenger Cars, including an SUV by 2021 during its long term plans. Other than Porter H-100, Hyundai has launched three Vehicles in the local market i.e. Santa Fe, Grand Starex, and Ioniq. The company is also planning to launch a budget Car in the shape of the 1000 CC Picanto hatchback by KIA. Hyundai Nishat constructed a production plant in Faisalabad with the investment of $150. The plant has a capacity of producing 15,000 units in a year. The auto manufacturer has a plan to invest extra $230 millions to increase the production capacity of vehicles up to 30, 000 units by 2023.

Hyundai Nishat is expected to offer three vehicles June 2021 Video Preview

The company availed the benefit of subsidy on tax given according to the Auto Development Policy ADP and many years later invested on large scale. On the other side the auto sector is facing a lot of obstacles in Pakistan because the sale of Vehicles has reduced.

According to the General Manager Sales & marketing of Hyundia Nishat, Ibaad Jamal, the sale of Vehicles will be at peak once again. At the launch ceremony of Porter H-100, while talking to media, he said that the overall economic slowdown and the decrease in the value of local currency against the US dollar have affected the sale of Vehicles.

It is noteworthy that in the first four months of the financial year 2019-20, sales of Vehicles have ped by 44%. The main reason for this fall is because of the rupee's depreciation against the US dollar, the prices of Vehicles are talking to the sky. In addition, the situation was made worse by the government's imposition of various taxes. The influx of new auto companies into the local market created expectations for increased competition and good quality products. But Hyundai still has to introduce a car in the mid-range to compete with existing Japanese companies operating in the country.

The Hyundai Porter H100 is a good addition to the local market, as its previous version, Shehzore, was very successful in the country a long time ago. Booking for Porter H100 will start on December 3, 2019 and the company will start delivering from January 2020. The X-Factory price of the car is Rs 24,99,000 and comes with a warranty of 4 years o r 100,000 km whichever comes first.

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