Hyundai-Nishat began their sales operations in Pakistan with the launch
of its first Digital Showroom at Emporium Mall Lahore, which is also the
first of its kind in the country. The company also introduced two vehicles including the Grand Starex light commercial MPV and the Santa Fe SUV.
Both the vehicles have remained in hot discussions on social platforms, specially the Santa Fe due to its outrageously high price tag. People were excepting from these newcomers something targeted for the masses, something well within the reach of the buyers, because that was the very purpose of the Auto Policy 2016-21, to attract new players in the market which will eventually create healthy competition in the sector. Unfortunately this doesn’t seem to be happening.
Related: Hyundai Launches Digital Showroom and 2 New Vehicles in Pakistan
Hyundai-Nishat priced the Santa Fe SUV between PKR 16 million to PKR 18.5 million, which for easier understanding is 1 crore 85 lac. The price is three times more than what the Santa Fe is available for elsewhere, not to mention the pricey SUV in Pakistan which comes in a single trim, falls short of specs & equipment too.
Although Hyundai-Nishat calls it a premium offering, someone needs to remind them that it’s the Genesis brand which is supposed to be premium. It would have been more logical had Hyundai-Nishat introduced a Genesis product and priced it at PKR 18.5 million.
Related: Hyundai Concerned About Poor Quality Fuel in Pakistan
The Hyundai Santa Fe it isn’t actually a premium product for that matter. Its rather labeled as ‘premium’ because its super expensive. Yes it’s a mid-sized SUV with decent features on offer, something that competes against the likes of Toyota Fortuner, but it doesn’t give any liberty to the newcomer to price it in the league of the prestigious Toyota Land Cruiser Prado.
Not many people have the luxury to spend PKR 18.5 million on something on four wheels. This is the sort of money which can buy you a very decent bungalow, and a plethora of luxury cars with a far better brand image than Hyundai.
If Hyundai Pakistan is serious in making the Santa Fe successful they should bring the price down to a realistic level, but if they are hoping to get success by pricing it 3x times as compared to international markets, then the only thing one might say is "good luck with that"..
