Hyundai Nishat Motor has announced substantial price reductions across its hybrid vehicle range following the government’s decision to lower the sales tax on hybrid electric vehicles (HEVs) from 25% to 18%.
The tax relief has resulted in price cuts of hundreds of thousands of rupees across Hyundai’s locally available hybrid models, offering customers significant savings.
The Hyundai Elantra Hybrid has received a price reduction of Rs639,000, bringing its price down from Rs11.4 million to Rs10.761 million.
The Tucson Hybrid Smart FWD has become Rs724,000 cheaper and is now priced at Rs12.202 million, while the Tucson Hybrid Signature AWD has received a reduction of Rs801,000, bringing its price to Rs13.3 million.
The largest price cuts have been announced for the Santa Fe Hybrid range. The Santa Fe Hybrid Smart FWD has become Rs1.316 million cheaper, with its revised price standing at Rs13.258 million.
Meanwhile, the Santa Fe Hybrid Signature AWD has received the biggest reduction of Rs1.403 million, bringing its price down to Rs14.72 million.
The revised prices are expected to improve the affordability of hybrid vehicles and could encourage greater adoption of fuel-efficient vehicles as Pakistan’s automotive industry gradually moves towards more economical and environmentally friendly mobility solutions.
Read also: Locally manufactured hybrid electric vehicles exempted from sales tax
