KIA has announced a price increase for its entire range.
In light of the rupee’s decline and the current economic climate, Lucky Motors has decided to make a shift. According to a press release on Tuesday, Lucky Motors has raised the costs of all of the company’s KIA models, as well as its booking policy, in the face of an escalating economic crisis.
According to the State Bank’s letter of credit mandate, ‘the economic variables outside their control’ is a possible explanation for the booking policy. The rupee has been directly linked to the price increase.
The new prices and booking status are as follows:
|KIA Variants||Old Price (PKR)||New Price (PKR)||Price Hike (PKR)||Booking Status|
|Picanto A/T||2,700,000||3,200,000||500,000||On Hold|
|Sportage FWD||5,858,000||6,750,000||892,000||On Hold|
|Sportage AWD||6,363,000||7,250,000||877,000||On Hold|
|Sorento 2.4 FWD||6,904,360||7,800,000||895,000||Open|
|Sorento 2.4 AWD||7,573,990||8,500,000||926,000||Open|
|Sorento V6 FWD||7,573,990||8,500,000||926,000||Open|
July 19 marks the start of new pricing for any full bookings made after June 18, 2022, including partial bookings that are due in July 2022 or later.
Bookings for some models will remain closed due to what we can guess is the demand for the models in relation to supply chain capabilities, and the discount on the KIA Sorento that began in January 2022 will come to an end, according to the circular.