Lucky Motor Corporation Limited (LMCL) has increased the prices of all Kia Cars except Sportage Alpha and Carnival. The company hasn’t cited any particular reason for the hike, although currency depreciation is the likely culprit.
It is worth noting that, unlike the last price hike, the company has also increased the price of Picanto. Effective April 1, the new prices are as follows:
|Model||Current Price (Rs.)||Revised Price (Rs.)||Increase (Rs.)|
The latest price hikes have made some interesting changes to Kia’s car lineup. To start with, all Sorento models now cost over Rs. 10 million (1 crore). Additionally, even Kia’s budget crossover SUV Stonic now has a starting price of over Rs. 5 million.
Between 2019 and 2022, Kia was the fastest-growing new car company in Pakistan. However, recent economic challenges have altered its trajectory radically. Whether or not the company will regain its momentum, remains to be seen.