Kia Car Prices: Expected Prices of Kia Cars After the Mini-Budget

The implementation of the mini-budget has caused automakers to raise their vehicle pricing. As evidenced by various adjustments, the majority of price increases are the result of increasing Federal Excise Duty (FED) and sales tax rates.

Due to a sharp increase in car imports, which contributed significantly to the skyrocketing import bill, the mini-budget concentrated on the auto sector. As a result, Completely Built-Up (CBU) automobiles have now been subjected to significant regulatory burdens, while locally produced vehicles are now susceptible to FED and sales tax increases.

It is remarkable that the tax increases have been enacted in such a way that the prices of all vehicles are likely to rise except for automobiles with engine displacements ranging from 1001cc to 1300cc.

To be clear, the FEDs on locally produced vehicles are:

For 660cc to 1000cc automobiles, the increase ranges from 0% to 2.5 percent.

2.5 percent for automobiles ranging from 1001cc to 1300cc.
Increased from 2.5 percent to 5% for automobiles with displacements ranging from 1301cc to 2000cc.
Increased from 5% to 10% for automobiles with displacements greater than 2000cc.
Although Kia Lucky Motors has kept its prices relatively stable since its inception, the current tax increases will force it to raise the prices of its vehicles. Kia’s pricing increases are projected to be as follows:

Cars	Engine Displacement (Cubic Capacity)	Current Price (Rs.)	Expected Price (Rs.)	Increase (Rs.)
Picanto MT	998	2,050,000	2,185,300	135,300
Picanto AT	998	2,150,000	2,291,900	141,900
Stonic EX	1400	3,660,000	3,749,268	89,268
Stonic EX +	1400	3,880,000	3,974,634	94,634
Sportage Alpha	1999	4,650,000	4,763,415	113,415
Sportage FWD	1999	5,150,000	5,275,610	125,610
Sportage AWD	1999	5,650,000	5,787,805	137,805
Sorento FWD	2359	6,836,000	7,161,524	325,524
Sorento AWD	2359	7,812,000	8,184,000	372,000
Sorento V6 FWD	3342	8,203,000	8,593,619	390,619

Kia Lucky Motors earlier announced a price rise in November 2021 because to increasing freight charges, raw material expenses, and currency depreciation. Surprisingly, despite the price increase, the Sorento remained same.

This time, however, that will not be the case because the government has announced a hefty tax rate increase for that area, which is anticipated to drive up costs significantly. Overall demand for all automobiles, with the exception of the Picanto, is expected to stay stable due to the high purchasing power of Kia’s target market class.