Hyundai Santa Fe's Flying Start in Pakistani Sales

Abdullah

23 Dec 2023

495 Hyundai Santa Fe

Hyundai Santa Fe's Flying Start in Pakistani Sales

In a challenging economic climate marked by diminished sales, reduced purchasing power, soaring car prices, and stringent auto financing conditions, Pakistan's local automobile market finds itself at a 20-year low. Despite these adversities, automakers persist in launching super-expensive vehicles targeting the elite consumer segment, seemingly unaffected by the prevailing challenges.

Hyundai Nishat's Premium Strategy

Sazgar's success with the high-end Haval SUVs has been echoed by Hyundai-Nishat, particularly with the locally assembled Santa Fe hybrid. Hyundai, positioning itself as a premium brand in Pakistan, has strategically refrained from offering its popular compact models, focusing instead on catering to the elite class. This strategy has proven successful for the company.

The Rise of the Hyundai Santa Fe in Pakistan

Launched in October 2023, the Hyundai Santa Fe 2024 comes with a base Smart variant priced at Rs. 12,990,000 and a flagship Signature variant at Rs. 14,699,000. Despite the on-road prices nearing Rs. 1.5 crore, the Santa Fe hybrid witnessed impressive sales figures, attracting 175 buyers in its inaugural month and 123 in the subsequent month of November. The first two months saw a total of 298 units sold, averaging 149 units per month, surpassing the sales of many locally assembled, lesser-priced vehicles in the market.

Comparative Sales Analysis

To put this into perspective, the cumulative sales of Honda BR-V and HR-V in Pakistan over the last two months amounted to only 183 units. Dividing this figure between the two models results in an individual sales average of just 45 units per month. In stark contrast, the monthly sales of the Hyundai Santa Fe are three times higher than that of the BR-V and HR-V combined.

Outperforming Stablemates and Competitors

Santa Fe's sales outshine even its stablemates, the C-segment Elantra sedan and D-segment Sonata. With October and November sales of 157 units and 85 units, respectively, Santa Fe's sales are 89% higher than Elantra and a remarkable 250% higher than Sonata during the same period.

Dominance Over Other Market Players

Comparatively, the combined sales of Isuzu D-Max and BAIC BJ40 Plus SUV in the last two months totaled only 17 units. This pales in comparison to the Hyundai Santa Fe's impressive performance, currently the second most expensive locally assembled vehicle, trailing only behind the Toyota Fortuner. Even the budget-friendly Suzuki Bolan, with 312 units sold in the last two months, lags only slightly behind the Santa Fe, emphasizing the dominance of the high-end vehicle in the market.

The Future of Hyundai Santa Fe in Pakistan

While the sales success of the Hyundai Santa Fe Hybrid Price in Pakistan in the last two months is evident, the question remains whether this momentum will be sustained in the upcoming months. Nevertheless, these statistics shed light on the preference of automakers to introduce Expensive Cars in Pakistan, opting for profitability over purported mass-market options.

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