Following the reduction in the sales tax on hybrid vehicles, Hyundai Nishat Motor has announced new price for its electric hybrid vehicles (HEVs).
As per the Ministry of Finance and Revenue, a reduction of 18% to 25% has been provided in the sales tax on HEVs, which has initiated a layer of relief for car buyers.
After cutting the sales tax from the price of the Hyundai Elantra, which is a price cut of Rs639,000, the new price of the Hyundai’s variant is Rs10.761 million, which was Rs11.4 million before.
The Tucson Hybrid Smart FWD has become cheaper by Rs724,000, with its new price now fixed at Rs12.202 million.
While, the Tucson Hybrid Signature is now available at Rs13.3 million only, with a price cut of Rs801,000.
The highest price drop occurred in Hyundai’s Santa Fe Hybrid series.
Hyundai Santa Fe Hybrid Smart FWD will now be sold at Rs13.258 million, with a major price drop of Rs1.316 million.
On the other hand, the Santa Fe Hybrid Signature AWD has become lower in price by Rs1.403 million, and its new price has been fixed at Rs14.72 million.
The federal government of Pakistan on September 13, 2026, announced a reduction in the sales tax on hybrid vehicles.
As per the official notification released by the Ministry of Finance and Revenue, the sales tax has been cut for all local hybrid vehicles with engine capacities of up to 2,000cc from 25% to 18%.
The seven-percentage-point reduction takes effect immediately, according to the notification issued by the Ministry of Finance.
The move is expected to lower the cost of locally assembled hybrid vehicles and could boost demand for more fuel-efficient cars.
The tax cut is also in line with the government’s broader efforts to promote new energy vehicles and reshape the country’s automotive tax and duty structure.
The policy could benefit both consumers and local manufacturers, although the extent of any reduction in vehicle prices will depend on how automakers pass on the tax savings.
Further details on revised prices are expected from vehicle manufacturers in the coming days.
