Kia Stonic Price Up by Rs. 73,300

Jawad

01 Jul 2024

425 Kia Stonic

Kia Stonic Price Up by Rs. 73,300

The good times have ended as Kia Pakistan has raised the price of its subcompact crossover SUV, the Kia Stonic, by Rs. 733,000. The new cost now stands at Rs. 5,550,000, up from Rs. 4,767,000. Previously, the ex-factory price of the vehicle was Rs. 6,280,000. This price adjustment comes after a significant Rs. 1,500,000 reduction announced in April 2024, which shook the automotive market, especially for those who had paid more than Rs. 6 million earlier.

Effect of the Price Reduction

The substantial price cut in April 2024 drew considerable attention. It was a shock for customers who purchased the Kia Stonic at its higher original price but beneficial for those who bought it for under Rs. 4 million. Kia Pakistan aimed to boost sales and enhance competitiveness with this strategic price drop. However, the recent price hike might affect this momentum, raising concerns about consumer response and the vehicle's market position.

Resumption of Bookings

Kia Pakistan recently announced that the limited-time 5-year celebration offer led to an overwhelming customer response, prompting a temporary halt in bookings to review stock levels. Bookings for the Kia Stonic EX+ have now resumed. Starting July 1, 2024, new bookings will be for deliveries scheduled for December 2024 and beyond. A partial payment of Rs. 2.5 million is required for bookings, with a price lock available for December 2024 and January 2025 deliveries, contingent on currency devaluation and changes in government-imposed duties and taxes.

Market Competition

The increased price raises questions about how the market will respond, particularly when compared to the Suzuki Swift, which remains priced at Rs. 4,719,000 for its top variants. Following the last price reduction, the Kia Stonic's popularity surged, putting pressure on Suzuki Pakistan to adjust their prices. It will be interesting to see how consumers react to the new pricing of the Stonic and whether it will maintain its competitiveness. For those looking to book the Kia Stonic, the price lock offer provides some financial stability despite the recent increase.

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Kia Stonic Price Up by Rs. 73,300

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