The Hyundai Elantra Hybrid has become significantly more expensive in Pakistan, with its price reaching Rs11.4 million (Rs1.14 crore) following changes to the taxation regime for hybrid vehicles.
The price has increased by Rs1.505 million, taking the car from approximately Rs9.895 million to Rs11.4 million. This represents an increase of around 15.2%, adding a substantial cost for buyers considering the hybrid sedan.
The increase follows the expiry of concessional sales-tax treatment for hybrid vehicles at the end of the 2025-26 fiscal year. From July 1, 2026, hybrid vehicles became subject to a 25% sales tax after the previous concession expired. According to Business Recorder, the exemption expired on June 30, after which hybrid vehicles were shifted to Schedule-II of SRO 297(I)/2023, bringing them under the higher sales-tax rate.
The change has affected several hybrid models across Pakistan’s automotive market. Manufacturers have revised prices as they adjust to the increased tax burden, making hybrid vehicles more expensive for consumers.
The Hyundai Tucson Hybrid and Santa Fe Hybrid have also received major price revisions. The Santa Fe Hybrid Signature AWD has reportedly increased by around Rs2.128 million, taking its price to approximately Rs16.123 million.
Despite the higher official price, Hyundai is currently offering customers temporary relief through its Azadi Promotional Offer, which is valid until August 31. Under the promotion, buyers of the Elantra Hybrid can receive a Rs639,000 discount.
Following the discount, the promotional price comes to approximately Rs10.761 million, although customers should confirm the final price, availability and terms of the offer with Hyundai before purchasing.
The latest price increase highlights the growing impact of taxation on vehicle affordability in Pakistan. Hybrid cars had previously benefited from tax concessions, making them a more attractive option for consumers seeking better fuel efficiency.
With the tax change now reflected in vehicle prices, buyers may need to carefully compare purchase costs, fuel savings, financing expenses and available promotional offers before deciding whether to buy.
The higher prices could also affect demand in Pakistan’s automotive market, particularly as consumers face rising costs and become more cautious about major purchases.
