KIA Pakistan has unexpectedly increased the prices of its popular cars, the KIA Picanto hatchback and the KIA Sportage SUV, starting from February 1, 2024. This decision has raised questions among consumers about the reasons behind the price hike.
Specifically, the manual variant of the Picanto has seen a substantial increase of Rs. 250,000, bringing the new ex-factory price, including CVT, to Rs. 3,600,000, up from the previous Rs. 3,350,000.
KIA Sportage Revised Price in Pakistan:
Likewise, the Alpha version of the KIA Sportage also experiences a rise of Rs. 250,000. Its new ex-factory price, inclusive of CVT, is now Rs. 7,550,000, compared to the previous Rs. 7,300,000.
For those looking to purchase, you can still reserve the KIA Picanto and KIA Sportage by making partial payments. Here are the key details:
Booking Terms:
- Starting from February 1, 2024, all new orders will be billed at the updated ex-factory prices.
- Existing orders in the system by February 1, 2024, will be processed at the revised ex-factory rates.
- Until February 29, 2024, there’s a limited cashback offer of PKR 150,000 on all Sportage variants.
- Keep in mind that the ex-factory prices mentioned do not cover freight and insurance charges.
- Customers are responsible for any new government duties or taxes during delivery.
Impact and Analysis: This marks the first car price increase in 2024, possibly indicating a trend for other car manufacturers. Despite some stability in the local car industry, high prices continue to position cars as luxury items, making them less accessible for the average buyer. KIA Pakistan’s sudden price adjustment comes amidst a changing market, with other companies offering incentives like free registration, insurance, and cashback to boost sales.
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