Business

The owner of a Hyundai Nishat wants to import car parts from India

The owner of a Hyundai Nishat wants to import car parts from India

The depreciation of the local currency raised freight expenses, and rising raw material costs forced automakers to raise their vehicle pricing. A solution to this problem may have been provided by one of the automobile groups.

Mian Mohammed Mansha, the owner of Hyundai Nishat Motors Private Limited (HNMPL), claimed in an interview with The Indian Express that importing auto components from India might benefit the Pakistani car sector.

He stated that:

Advertisement
I’m a businessperson. That is why I argue that if something is cheaper in India, why should I buy it elsewhere? The expense of transportation is lower (from India). We have a wide range of items to choose from. We (the Nishat Group) manufacture Hyundai automobiles. Hyundai is a huge company in India. We could get some parts from India for less money than we could get them from China, for example. You also do a great deal of business with China. Your imports from China are massive, and if you look at it closely, you also have territorial disputes with China.
In August 2019, Pakistan banned commerce with India after India’s decision to repeal the legislation that awarded occupied Kashmir special status. “I think we need to move forward on the Kashmir problem,” Mansha said. “We may take little moves.” “I believe we should reduce the temperature.”

Hyundai in India

Hyundai is one of India’s leading automotive firms, producing a wide range of wholly indigenous automobiles. In India, the firm has three production units with a combined capacity of 740,000 automobiles per year.

Hyundai Tucson is now the sole passenger car shared by both Hyundai Motor India and HNMPL. Hyundai Tucson prices in India start at INR 2.27 million (5.47 million PKR) and go up to INR 2.74 million (6.6 million PKR). Although the Tucson costs less in Pakistan than it does in India, the latter offers more variations, each with greater features.

Pakistani Auto Policy

Pakistan’s most recent car policy pushes automakers to gravitate toward local vehicle production. It aspires to build a totally indigenous automobile sector, similar to that of India, in order to cut import costs and strengthen the domestic industry.

To carry out local assembly of their cars, automakers continue to rely on Completely Knocked Down (CKD) kits supplied from overseas. This type of business strategy is more vulnerable to logistics costs and volatile local currencies.

HNMPL appears to be unwilling to pursue indigenous automobile manufacture in Pakistan, based on its owner’s recent statements.

Click to add a comment

Leave a Reply

Your email address will not be published.

More in Business

USD to PKR

USD to PKR – Dollar Rate in Pakistan | 26 May 2022

Muhammad UsmanMay 26, 2022
Today Gold Rate

Today Gold Rate in Pakistan | 26 May 2022

Muhammad UsmanMay 26, 2022
Hyundai recall exploding seat belts

Hyundai recall exploding seat belts: 39000 Elantra recalled over expoding seatbelts

Muhammad UsmanMay 25, 2022
Toyota IMC

Toyota IMC will release an affordable Corolla Cross Hybrid built locally

Muhammad UsmanMay 24, 2022
Cherry QQ Wujie Pro

Cherry QQ Wujie Pro has a range of 408 kilometres and costs 11,840 USD in China

Muhammad UsmanMay 22, 2022
Chery QQ Wujie Pro

The Chery QQ Wujie Pro is a low-cost electric vehicle with a range of over 400 kilometres

Muhammad UsmanMay 21, 2022
Car Financing

Car financing has increased by 25% as compared to previous year

Muhammad UsmanMay 20, 2022
Wells Fargo fake job interviews

Wells Fargo fake job interviews: Quest to Increase Diversity Leads to Fake Job Interviews

Muhammad UsmanMay 20, 2022
Mercedes-Benz 300 SLR Uhlenhaut Coupe

Mercedes-Benz 300 SLR Uhlenhaut Coupe: Is World’s Most Expensive Car At $143M

Muhammad UsmanMay 20, 2022