Locally-made Hyundai Tucson price drops by Tk10.5 lakh

The Hyundai Tucson, a popular sport utility vehicle (SUV), has seen a significant price reduction thanks to the local production, now available at Tk53.5 lakh, a reduction of Tk10.5 lakh.

Fair Technology, the manufacturer and distributor of Hyundai cars in Bangladesh, enables this price adjustment by locally producing the increasingly popular SUV at the Bangabandhu Hi-Tech Park, Kaliakoir, Gazipur plant.

Previously, imported Tucson units were priced at Tk64 lakh until Fair Technology initiated local painting and deep assembling of the Tucson.

The company is now able to pass on the cost benefits to customers, thanks to the reduced government duties and taxes associated with local value addition.

Earlier this year, Fair Technology inaugurated its state-of-the-art painting and assembling facilities, extending its localisation efforts to include the Hyundai compact SUV Creta and the seven-seater Creta Grand before the Tucson.

Speaking at the launch event held on Monday at a flagship Hyundai outlet in the capital, Fair Technology Director and CEO Mutassim Daiaan stated, "The market is experiencing an inflationary trend, and we are sharply reducing the price of Tucson. This not only demonstrates Hyundai's strong commitment to local manufacturing but also reflects our dedication to our customers, who will be highly encouraged to purchase this popular SUV."

He also emphasised the company's commitment to "More Promise".

The 1.6-liter turbo engine SUV now comes with an enhanced package, including a 5-year warranty/1,00,000 km, and 10 free services within the same period. Additionally, buyers can take advantage of an assured buyback facility of up to 70% of the purchase price within three years or 40,000 kilometres.

The reduced price, generous warranty, and after-sales services are expected to drive increased demand for Tucson in Bangladesh, according to the Fair Technology CEO.

Fair Group Head of Communication Hasnain Khurshed, Head of Marketing J M Taslim Kabir, Fair Technology Head of Sales Abu Naser Mahmud, Manager-Sales Operations Ataur Rahman, and Product Manager Rubaiat Uddin attended the launch event, followed by a press conference.

The Tucson is equipped with modern safety and electronic features and offers a fuel efficiency of 12-14 km on highways. Customers will have the option to avail of car loans from five partner banks, Fair Technology officials said.

Fair Technology has successfully sold more than 1,500 Hyundai cars within the initial nine and a half months of the year.

During the period spanning January to September, the Bangladesh Road Transport Authority recorded registrations for close to 14,000 sedans and SUVs.