Kia Car Prices Increase by Up to Rs. 350,000

Jawad

06 Sep 2023

252 Kia

Kia Car Prices Increase by Up to Rs. 350,000

Kia Lucky Motors has recently taken the decision to increase the prices of select car models in its lineup, though the company has not provided any specific rationale behind this move. This price adjustment comes at a time when the exchange rate for the US dollar has surged by nearly Rs. 20 within the past two weeks. Notably, in the context of a sluggish automobile market in Pakistan, where many car manufacturers are offering various incentives such as discounts, free registration, and complimentary insurance to stimulate sales, Kia has opted to implement price hikes.

The question looming over the industry now is whether this signals the onset of another wave of price increases in the near future. Only time will tell. The revised Kia car prices will go into effect on September 6, 2023.

New Kia Car Pricing

The following Kia models have experienced price adjustments:

Kia Picanto AT: This model has seen an increase of Rs. 125,000, bringing the new price to Rs. 3,950,000, up from Rs. 3,825,000.

Kia Stonic EX+: The price of this model has surged by Rs. 230,000, with the new price standing at Rs. 6,280,000, compared to its previous price of Rs. 6,050,000.

Kia Sportage All Wheel Drive (AWD) : The cost of this model will now be Rs. 8,920,000, as opposed to the previous rate of Rs. 8,820,000, reflecting a Rs. 100,000 increase.

Kia Sportage Black (Limited Edition): This premium model now commands a price tag of Rs. 9,650,000, up by a significant Rs. 350,000 from its previous price of Rs. 9,300,000.

Terms and Conditions

Kia Lucky Motors has outlined specific terms and conditions regarding these price adjustments:

Orders placed at the old prices before September 5, 2023, with full payment received by LMC's account as of September 11, will be honored at the previous ex-factory rates.

Orders placed from September 6 onwards will be subject to the new ex-factory prices.

Ex-factory prices do not include freight and insurance charges.

Customers will be responsible for any new or additional duties and taxes imposed by the government at the time of delivery.

The current environment for car buyers in Pakistan is challenging, with record-high inflation, an unprecedented dollar exchange rate, and hefty duties and taxes. The latest round of car price increases threatens to further strain the purchasing power of the general populace, potentially leading to an oversaturated market. Addressing these issues necessitates economic and political stability, but the situation appears to be deteriorating with each passing day.

What are your thoughts on these new Kia car prices? Do you believe they are justified? Please share your opinions in the comments section below.

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