Business

Kia Pakistan Announces Massive Price Hike: Check Latest Kia Car Prices

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Staff Reporter

2 years ago

Kia Pakistan has abruptly raised the price of its crossover SUV, the Sportage, and hatchback, the Picanto. The business hasn’t disclosed the precise rationale for this choice. Nonetheless, the official announcement states that the additional cost would take effect on February 1, 2024.

New Kia Picanto Price (February 2024)

Only the manual Picanto variant’s price has been changed by the automaker; it was formerly Rs. 3,350,000 but now stands at Rs. 3,600,000 after a 250,000 increase. The price includes CVT and is ex-factory.

Kia Sportage Price (February 2024)

Similar to Picanto, Sportage’s Alpha variant now costs Rs. 7,550,000 ex-factory (including CVT) instead of Rs. 7,300,000. This is a Rs. 250,000 price increase. Both cars are available for reservation with a down payment.

New Terms Announced By Kia Pakistan over Price Hike

Beginning on February 1, 2024, all new orders will be invoiced at the updated ex-factory rates.
Beginning on February 1, 2024, all orders placed through the LMC system will be sent at the revised ex-factory rates.
Customers have until February 29, 2024, to take advantage of the limited-time rebate offer on all Sportage variants (PKR 150,000.
The ex-factory pricing do not include freight or insurance costs.
The customer will be responsible for paying any new or extra taxes and fees levied by the government that are in effect at the time of delivery.

Since this is the first increase in auto prices in 2024, more businesses may decide to follow Kia Pakistan’s lead. Even though the local auto sector has somewhat stabilized, cars are still considered a luxury by most people, and this increase in price will make them even more unaffordable for the average person. Due to low sales, the local auto market has gone from being “ON” to “OFF” during the past year or so.

Since practically all businesses are now offering various incentives, such as free registration, free insurance, and cashback, Kia Pakistan’s announcement of updated rates is unexpected.

Staff Reporter