Kia Raises Prices on Picanto and Sportage Models

Jawad

01 Feb 2024

387

Kia Raises Prices on Picanto and Sportage Models

In an unexpected development, Kia Pakistan has opted to raise the prices of its hatchback and crossover SUV models, the Kia Picanto and Sportage, respectively. Despite the lack of a specific explanation from the company, an official notification indicates that the new pricing structure will come into effect from February 1, 2024, leaving room for speculation about a potential Valentine's Day surprise.

Beginning with the Kia Picanto, the car manufacturer has chosen to adjust the price solely for the manual variant. This revision results in a significant increase of Rs. 250,000, bringing the new ex-factory price to Rs. 3,600,000, up from the previous Rs. 3,350,000, with the inclusion of CVT.

Similarly, the Kia Sportage's Alpha variant experiences a parallel price hike of Rs. 250,000, causing its ex-factory (including CVT) price to climb from Rs. 7,300,000 to Rs. 7,550,000. Both models are available for booking with a partial payment option.

MODEL	OLD PRICE	NEW PRICE	DIFFERENCE	BOOKING METHOD
KIA PICANTO M/T	3,350,000	3,600,000	250,000	Partial Payment
KIA SPORTAGE ALPHA	7,300,000	7,550,000	250,000	Partial Payment

The terms and conditions outlined by Kia Pakistan include new ex-factory prices for all orders placed from February 1, 2024. Additionally, orders booked in the LMC system will be delivered at the revised ex-factory prices. Customers can continue to benefit from a limited cashback offer of PKR 150,000 on all Sportage variants until February 29, 2024. Ex-factory prices exclude freight and insurance charges, while any new or additional government duties and taxes applicable at the time of delivery will be borne by the customer.

This price adjustment marks the first car price hike of 2024 in Pakistan's automotive market, potentially setting a precedent for other companies to follow suit. Despite a relatively stabilized local car industry, the persistently high prices have positioned cars as a luxury, making them increasingly unaffordable for the general populace. This move by Kia Pakistan is particularly notable given the recent downturn in the local car market, with many companies resorting to various incentives, including free registration, insurance, and cashback offers. Share your thoughts on Kia Picanto and Sportage's increased prices in the comments section below.

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