KIA Becomes The First to Increase Car Prices in Pakistan for 2024

Kia Sportage price increased by Rs2.5 lacs; Check new rates here. KARACHI – Lucky Motor Corporation (LMC), the maker of Kia cars in Pakistan, became the first auto company to announce its first price hike in 2024, as its famous small crossover SUV Sportage saw a price increase of Rs250,000.

A new price notification by the company shows a price hike for Kia Picanto, and Sportage. The new prices of the company’s front-runner vehicle are effective from February 2024.

The company hasn’t given any specific reason behind the unexpected move. This is also the first official price hike announcement by any assembler in the calendar year 2024.

Lucky Motor Corporation Takes the Lead as KIA Raises Car Prices in Pakistan for 2024

In a bold move, Lucky Motor Corporation (LMC) has become the trendsetter in Pakistan's automotive landscape by announcing a significant price increase for two Kia models in 2024.

In a notification issued on Thursday, LMC informed eager customers about the price adjustment, effective from February 1st, making them the first car manufacturer in the country to make such a move. While the company didn't explicitly state the reasons behind this decision, it has undoubtedly sparked curiosity among car enthusiasts.

The base model, Kia Picanto MT, now commands a price of Rs. 3,600,000, witnessing a notable increase of Rs. 250,000 from its previous tag of Rs. 3,350,000. Similarly, the Kia Sportage Alpha has experienced a parallel hike, now priced at Rs. 7,550,000 instead of Rs. 7,300,000, following a Rs. 250,000 surge.

In an intriguing twist, LMC specified that the decision only applies to the Kia Picanto MT and Kia Sportage Alpha, sparing other KIA models, including Picanto AT, Stonic EX+, Sportage FWD, AWD, Sorento, and Carnival, from the price adjustment.

The notification emphasized that all new customer orders booked in the LMC system from February 1, 2024, onward will adhere to the revised Ex-Factory Price. This strategic move comes at a time when the auto industry grapples with consumer hesitancy, prompting major manufacturers like Kia to entice buyers with limited-time offers.

Speaking of which, Kia recently unveiled an enticing cash-back offer on all variants of Sportage, valid until February 29, 2024, providing potential buyers with an added incentive to make their move.

As the automotive landscape in Pakistan evolves, LMC's decision to lead the charge in price adjustments sets the stage for potential shifts and responses from other players in the industry. Stay tuned as the drama unfolds in the dynamic world of Pakistani car prices.