As Lucky Motor Corporation Limited (LMCL) has been known for maintaining vehicle prices in the past two years, the depreciation of local currency and increase in shipping costs have forced the automaker to join other companies in increasing car prices.
As per a recent notification, the company has increased the prices of all Kia vehicles in Pakistan namely Sportage, Stonic, and Picanto. Effective immediately, the new prices are as follows:
|Variants||Old Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
|Sorento 2.4 FWD||6,904,360||7,800,000||895,000|
|Sorento 2.4 AWD||7,573,990||8,500,000||926,000|
|Sorento V6 FWD||7,573,990||8,500,00||926,000|
Interestingly, the price hikes for Kia Stonic are quite small compared to those for the rest of the lineup.
The rising cost of Kia’s top-selling cars has caused considerable financial hardship for many consumers. The company’s decision to increase prices for the fourth time this year has put additional pressure on an already struggling economy. This latest development could trigger a domino effect, with other businesses following suit and raising prices in response to the devaluation of the Pakistani Rupee.